IFSC Code of Bank Of India, Asset Recovery Management, Mumbai, Maharashtra- BKID0000159

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 Asset Recovery Management branch in Greater Bombay, Mumbai, 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 Greater Bombay or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0000159. 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, Asset Recovery Management, Greater Bombay

Here are the main details that are associated with the IFSC Code BKID0000159 of Bank Of India for its branch located in Greater Bombay, within the district of Mumbai in the state of Maharashtra.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Greater Bombay for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0000159 for the Asset Recovery Management 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 Asset Recovery Management, Greater Bombay, Maharashtra, are allotted a unique IFSC like BKID0000159 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It clearly tells which bank branch it is in Greater Bombay.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It prevents confusion between different branches of the same bank in places like Greater Bombay and Mumbai.
• 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 Asset Recovery Management reaches the right place, even though there are thousands of branches in Maharashtra and across India.

Format of the IFSC Code BKID0000159

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 Asset Recovery Management in Greater Bombay.

For example, the IFSC Code BKID0000159 of Bank Of India for the Asset Recovery Management branch has these elements, identifying the bank and the branch location in Greater Bombay and Maharashtra correctly.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0000159 of Bank Of India for its Asset Recovery Management branch located in Greater Bombay, the following methods can help:

Cheque Book

The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.

Passbook

You can easily find the IFSC and MICR codes because most banks, including Bank Of India branches in Greater Bombay and Mumbai, print them on the first page of your passbook.

Bank Website

Visit the official website of Bank Of India and navigate to the branch locator section. Search for Asset Recovery Management or Greater Bombay to get the exact IFSC Code BKID0000159.

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 keeps an updated list of all IFSC codes. If you search for Bank Of India and Greater Bombay, you'll get the correct details.

How to Use IFSC Code BKID0000159 for Online Transfers?

Once you have the IFSC Code BKID0000159 for the Asset Recovery Management branch of Bank Of India in Greater Bombay, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0000159. 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 BKID0000159.

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 Asset Recovery Management in Greater Bombay, 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 Asset Recovery Management, 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 Greater Bombay manage online transfers as well as cheque clearances with ease.