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 Mhow branch in Indore, Indore, 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 Indore or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG0434. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Mhow, Indore
Here are some of the key details that come with the IFSC Code BKID0MG0434 of Bank Of India for its branch located in Indore, within the district of Indore in the state of Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG0434 |
| Branch | Mhow |
| City | Indore |
| District | Indore |
| State | Madhya Pradesh |
| Address | Main Street, Mhow Teh |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Indore for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG0434 for the Mhow 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 that is provided by the Reserve Bank of India. A unique IFSC like BKID0MG0434 is given to every bank branch, including Bank Of India located in Mhow, Indore, Madhya Pradesh, 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 Indore.
- 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 Indore and Indore.
- 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 Madhya Pradesh and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Mhow doesn't end up at another location.
Format of the IFSC Code BKID0MG0434
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 Mhow in Indore.
For example, the IFSC Code BKID0MG0434 of Bank Of India for the Mhow branch includes these elements, identifying the bank and the branch location in Indore and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
If you are looking for the IFSC Code BKID0MG0434 of Bank Of India for its Mhow branch located in Indore, the following methods can help:
Cheque Book
The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the banks, including Bank Of India branches in Indore and Indore, print the IFSC and MICR codes on the first page of the passbook.
Bank Website
You can visit the official website of Bank Of India and look for the branch locator section, then search for Mhow or Indore to get the exact IFSC Code BKID0MG0434.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Indore, then it will provide you proper information.
How to Use IFSC Code BKID0MG0434 for Online Transfers?
Once you have the IFSC Code BKID0MG0434 for the Mhow branch of Bank Of India in Indore, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0MG0434. 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 BKID0MG0434.
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 Mhow in Indore 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 Mhow, 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 Indore manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0MG0434.
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 Main Street, Mhow Teh located in Indore, Indore, Madhya Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
