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 Wadasa branch in Gadchiroli, Wadasa, Maharashtra, 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 Gadchiroli or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG4054. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Wadasa, Gadchiroli
Here are some of the key details that come with the IFSC Code BKID0VG4054 of Bank Of India for its branch located in Gadchiroli, within the district of Wadasa in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG4054 |
| Branch | Wadasa |
| City | Gadchiroli |
| District | Wadasa |
| State | Maharashtra |
| Address | Ap Wadasa Dist Gadchiroli Pin 441207 |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Gadchiroli for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0VG4054 for the Wadasa 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 that is provided by the Reserve Bank of India. A unique IFSC like BKID0VG4054 is given to every bank branch, including Bank Of India located in Wadasa, Gadchiroli, Maharashtra, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Gadchiroli.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Gadchiroli and Wadasa.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Maharashtra and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Wadasa doesn't end up at another location.
Format of the IFSC Code BKID0VG4054
This is the format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Wadasa in Gadchiroli.
For example, the IFSC Code BKID0VG4054 of Bank Of India for the Wadasa branch includes these elements, identifying the bank and the branch location in Gadchiroli and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0VG4054 of Bank Of India for its Wadasa branch located in Gadchiroli, 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 Gadchiroli and Wadasa, 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 Wadasa or Gadchiroli to get the exact IFSC Code BKID0VG4054.
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 Gadchiroli that will provide accurate information.
How to Use IFSC Code BKID0VG4054 for Online Transfers?
Once you have the IFSC Code BKID0VG4054 for the Wadasa branch of Bank Of India in Gadchiroli, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0VG4054. 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 BKID0VG4054.
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 Wadasa in Gadchiroli, 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 Wadasa, 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 Gadchiroli manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Wadasa Gadchiroli branch is BKID0VG4054.
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 Ap Wadasa Dist Gadchiroli Pin 441207.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.