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 Dewas Mandi branch in Dewas, Dewas, Madhya Pradesh, 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 Dewas or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG0162. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Dewas Mandi, Dewas
Below in the table are the key details related to IFSC Code BKID0MG0162 of Bank Of India for its branch located in Dewas, within the district of Dewas in the state of Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG0162 |
| Branch | Dewas Mandi |
| City | Dewas |
| District | Dewas |
| State | Madhya Pradesh |
| Address | A301, Awas Nagar Mai |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Dewas for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG0162 for the Dewas Mandi 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 Dewas Mandi, Dewas, Madhya Pradesh, are given a unique IFSC like BKID0MG0162 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Dewas.
- 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 Dewas and Dewas.
- 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 Dewas Mandi goes to the correct branch. This is important because Bank Of India has thousands of branches in Madhya Pradesh and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0MG0162
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 Dewas Mandi in Dewas.
For example, the IFSC Code BKID0MG0162 of Bank Of India for the Dewas Mandi branch includes these elements, identifying the bank and the branch location in Dewas and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0MG0162 of Bank Of India for its Dewas Mandi branch located in Dewas, 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 Dewas and Dewas, 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 Dewas Mandi or Dewas to find the exact IFSC Code BKID0MG0162.
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 Dewas will provide accurate information.
How to Use IFSC Code BKID0MG0162 for Online Transfers?
Once you have the IFSC Code BKID0MG0162 for the Dewas Mandi branch of Bank Of India in Dewas, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0MG0162. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹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 BKID0MG0162.
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 Dewas Mandi in Dewas, 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 Dewas Mandi, 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 Dewas manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Dewas Mandi Dewas branch is BKID0MG0162.
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 A301, Awas Nagar Mai.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.