Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of Bank Of India for its Jolana branch in Dhar, Dhar, Madhya Pradesh, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Bank Of India located in Dhar or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG6001. You should definitely 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, Jolana, Dhar
Below in the table are the key details related to IFSC Code BKID0MG6001 of Bank Of India for its branch located in Dhar, within the district of Dhar in the state of Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG6001 |
| Branch | Jolana |
| City | Dhar |
| District | Dhar |
| State | Madhya Pradesh |
| Address | Jolana |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Dhar for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG6001 for the Jolana branch of Bank Of India has an important 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 Jolana, Dhar, Madhya Pradesh, are given a unique IFSC like BKID0MG6001 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Dhar.
- 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 Dhar and Dhar.
- 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 Jolana 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 BKID0MG6001
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 Jolana in Dhar.
For example, the IFSC Code BKID0MG6001 of Bank Of India for the Jolana branch has these elements, identifying the bank and the branch location in Dhar and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0MG6001 of Bank Of India for its Jolana branch located in Dhar, 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 Dhar and Dhar, 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 Jolana or Dhar to find the exact IFSC Code BKID0MG6001.
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 Dhar will provide accurate information.
How to Use IFSC Code BKID0MG6001 for Online Transfers?
Once you have the IFSC Code BKID0MG6001 for the Jolana branch of Bank Of India in Dhar, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0MG6001. 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 BKID0MG6001.
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 Jolana in Dhar may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Jolana, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Dhar manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0MG6001.
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 Jolana located in Dhar, Dhar, Madhya Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.