For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Bank Of India for its Garra Bagheda branch in Bhandara, Garra Bagheda, Maharashtra, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly 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 BKID0VG5006. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Garra Bagheda, Bhandara
The table below shows the main details of the IFSC Code BKID0VG5006 for the Bank Of India branch in Bhandara, which falls under the Garra Bagheda district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG5006 |
| Branch | Garra Bagheda |
| City | Bhandara |
| District | Garra Bagheda |
| State | Maharashtra |
| Address | Ap Bagheda Tal Tumsar Dist Bhandara 441912 |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Bhandara for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0VG5006 for the Garra Bagheda branch of Bank Of India is vital.
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, along with Bank Of India located in Garra Bagheda, Bhandara, Maharashtra, are allotted a unique IFSC like BKID0VG5006 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Bhandara.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Bhandara and Garra Bagheda.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to Bank Of India in Garra Bagheda reaches the right place, even though there are thousands of branches in Maharashtra and across India.
Format of the IFSC Code BKID0VG5006
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): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Garra Bagheda in Bhandara.
For example, the IFSC Code BKID0VG5006 of Bank Of India for the Garra Bagheda branch has these elements, identifying the bank and the branch location in Bhandara and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0VG5006 of Bank Of India for its Garra Bagheda branch located in Bhandara, the following methods can help:
Cheque Book
The cheque books that are issued by Bank Of India include the IFSC Code which is printed on each cheque and you can easily spot the code on the top section.
Passbook
Most banks, including Bank Of India branches in Bhandara and Garra Bagheda, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
Visit the official website of Bank Of India and find the branch locator section. Search for Garra Bagheda or Bhandara to get the exact IFSC Code BKID0VG5006.
Mobile Banking App
If you use Bank Of India's mobile app, you can easily 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 to help you in searching for Bank Of India and Bhandara that will provide accurate information.
How to Use IFSC Code BKID0VG5006 for Online Transfers?
Once you have the IFSC Code BKID0VG5006 for the Garra Bagheda 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 BKID0VG5006. 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 BKID0VG5006.
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 Garra Bagheda 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 differ from IFSC codes. If you are looking for the MICR code of Bank Of India in Garra Bagheda, here are some ways that 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.
If you know both IFSC and MICR codes, then it can help account holders in Bhandara manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0VG5006.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Ap Bagheda Tal Tumsar Dist Bhandara 441912 located in Bhandara, Garra Bagheda, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.