The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Bank Of India for its Barwa branch in Bhandara, Barwa, Maharashtra, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Bank Of India located in Bhandara or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG5003. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Barwa, Bhandara
The table below shows the main details of the IFSC Code BKID0VG5003 for the Bank Of India branch in Bhandara, which falls under the Barwa district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG5003 |
| Branch | Barwa |
| City | Bhandara |
| District | Barwa |
| State | Maharashtra |
| Address | Ap Barwa Tal Lakhandur Dist Bhandara 441805 |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Bhandara for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG5003 for the Barwa branch of Bank Of India plays a vital role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Barwa, Bhandara, Maharashtra, is provided with a unique IFSC like BKID0VG5003 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Bhandara.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any errors or confusions between multiple branches of the same bank across different places like Bhandara and Barwa.
- It reduces errors in fund transfers and improves accuracy.
- It allows sender banks to validate and confirm branch details before processing payments.
There are thousands of branches across Maharashtra and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Barwa do not get mixed with another location.
Format of the IFSC Code BKID0VG5003
The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown:
- First 4 characters (AAAA): Show the bank code. For Bank Of India, these letters represent the bank's short name.
- 5th character: Is always zero and is kept for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Barwa in Bhandara.
For example, the IFSC Code BKID0VG5003 of Bank Of India for the Barwa branch includes these elements, identifying the bank and the branch location in Bhandara and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0VG5003 of Bank Of India for its Barwa branch located in Bhandara, the following methods can help you out:
Cheque Book
The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code on the top section.
Passbook
Most banks, including Bank Of India branches in Bhandara and Barwa, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Bank Of India and go to the branch locator section. Then search for Barwa or Bhandara to find the exact IFSC Code BKID0VG5003.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to find your branch's IFSC code.
RBI Website
The Reserve Bank of India maintains an updated database of all IFSC codes. Searching for Bank Of India and Bhandara will provide accurate information.
How to Use IFSC Code BKID0VG5003 for Online Transfers?
Once you have the IFSC Code BKID0VG5003 for the Barwa branch of Bank Of India in Bhandara, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0VG5003. The transfer is completed in batches instead of instantly. It is useful for both personal and business payments.
RTGS
Used for high-value payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. Requires the recipient's account details and Bank Of India IFSC Code BKID0VG5003.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Bank Of India Barwa in Bhandara, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Bank Of India in Barwa, here are some of the ways you can get it:
- Check the bottom of your cheque leaf.
- Refer to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
Knowing both IFSC and MICR code can help account holders in Bhandara manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code of the Barwa Bhandara branch is BKID0VG5003.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Ap Barwa Tal Lakhandur Dist Bhandara 441805.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.