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 Nawadih branch in Chatra, Chatra, Jharkhand, 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 Chatra or anywhere in Jharkhand can transfer funds instantly by using the correct IFSC Code BKID0005966. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Nawadih, Chatra
Here are the key points that are associated with the IFSC Code BKID0005966 of Bank Of India for its branch located in Chatra, within the district of Chatra in the state of Jharkhand.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0005966 |
| Branch | Nawadih |
| City | Chatra |
| District | Chatra |
| State | Jharkhand |
| Address | Nawadihi Chowkp O Damolblock Pathalgadadist Chatra825408 |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Chatra for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0005966 for the Nawadih 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 Nawadih, Chatra, Jharkhand, are allotted a unique IFSC like BKID0005966 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Chatra.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Chatra and Chatra.
- 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 Nawadih reaches the right place, even though there are thousands of branches in Jharkhand and across India.
Format of the IFSC Code BKID0005966
The format of the IFSC Code for banks, including Bank Of India, has 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 Nawadih in Chatra.
For example, the IFSC Code BKID0005966 of Bank Of India for the Nawadih branch includes these elements, identifying the bank and the branch location in Chatra and Jharkhand correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0005966 of Bank Of India for its Nawadih branch located in Chatra, 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 Chatra and Chatra, 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 Nawadih or Chatra to find the exact IFSC Code BKID0005966.
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 Chatra will provide accurate information.
How to Use IFSC Code BKID0005966 for Online Transfers?
Once you have the IFSC Code BKID0005966 for the Nawadih branch of Bank Of India in Chatra, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0005966. Transfers are processed in batches. This is suitable for 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 BKID0005966.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for Bank Of India Nawadih in Chatra may result in delayed or failed transactions.
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 Nawadih, 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 Chatra manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0005966.
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 Nawadihi Chowkp O Damolblock Pathalgadadist Chatra825408 located in Chatra, Chatra, Jharkhand.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
