There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Bank Of India for its Padmapur branch in Chandrapur, Chandrapur, Maharashtra, then this comprehensive guide will provide you with detailed information.
The banking system in India has changed over time, and today the customers of Bank Of India situated in Chandrapur or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0009635. You should know how the IFSC Code works and how it helps you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Padmapur, Chandrapur
Below in the table are the key details related to IFSC Code BKID0009635 of Bank Of India for its branch located in Chandrapur, within the district of Chandrapur in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0009635 |
| Branch | Padmapur |
| City | Chandrapur |
| District | Chandrapur |
| State | Maharashtra |
| Address | Shakti Nagar Wcl Colonydurgapur Dist Chandrapur |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Chandrapur for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0009635 for the Padmapur 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, along with Bank Of India located in Padmapur, Chandrapur, Maharashtra, are given a unique IFSC like BKID0009635 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Chandrapur.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents any kind of confusion between different branches of the same bank in places like Chandrapur and Chandrapur.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It helps ensure that any money sent to Bank Of India in Padmapur goes to the correct branch. This is important because Bank Of India has thousands of branches in Maharashtra and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0009635
The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown of this:
- First 4 characters (AAAA): Represent the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): Always zero which is reserved for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Padmapur in Chandrapur.
For example, the IFSC Code BKID0009635 of Bank Of India for the Padmapur branch includes these elements, identifying the bank and the branch location in Chandrapur and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0009635 of Bank Of India for its Padmapur branch located in Chandrapur, 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 Chandrapur and Chandrapur, 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 Padmapur or Chandrapur to get the exact IFSC Code BKID0009635.
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 Chandrapur that will provide accurate information.
How to Use IFSC Code BKID0009635 for Online Transfers?
Once you have the IFSC Code BKID0009635 for the Padmapur branch of Bank Of India in Chandrapur, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0009635. 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 BKID0009635.
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 Padmapur in Chandrapur, 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 Padmapur, 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 Chandrapur manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code of the Padmapur Chandrapur branch is BKID0009635.
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 Shakti Nagar Wcl Colonydurgapur Dist Chandrapur.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.