IFSC Code of Bank Of India, Panagar, Jabalpur, Madhya Pradesh- BKID0MG1207

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 Panagar branch in Jabalpur, Jabalpur, 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 Jabalpur or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG1207. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.

Details of IFSC Code for Bank Of India, Panagar, Jabalpur

Here are the main details that are associated with the IFSC Code BKID0MG1207 of Bank Of India for its branch located in Jabalpur, within the district of Jabalpur in the state of Madhya Pradesh.

These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Jabalpur for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG1207 for the Panagar 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, including Bank Of India located in Panagar, Jabalpur, Madhya Pradesh, is provided with a unique IFSC like BKID0MG1207 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It uniquely identifies the Bank Of India branch in Jabalpur.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It avoids any errors or confusions between multiple branches of the same bank across different places like Jabalpur and Jabalpur.
• It reduces errors in fund transfers and improves accuracy.
• It allows sender banks to validate and confirm branch details before processing payments.

There are thousands of branches across Madhya Pradesh and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Panagar do not get mixed with another location.

Format of the IFSC Code BKID0MG1207

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 Panagar in Jabalpur.

For example, the IFSC Code BKID0MG1207 of Bank Of India for the Panagar branch has these elements, identifying the bank and the branch location in Jabalpur and Madhya Pradesh correctly.

How to Find IFSC Code for Bank Of India?

If you are looking for the IFSC Code BKID0MG1207 of Bank Of India for its Panagar branch located in Jabalpur, 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 Jabalpur and Jabalpur, 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 Panagar or Jabalpur to get the exact IFSC Code BKID0MG1207.

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 Jabalpur, then it will provide you proper information.

How to Use IFSC Code BKID0MG1207 for Online Transfers?

Once you have the IFSC Code BKID0MG1207 for the Panagar branch of Bank Of India in Jabalpur, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0MG1207. 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 BKID0MG1207.

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 Panagar in Jabalpur, 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 Panagar, here are some ways to obtain 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.

Having both the IFSC and MICR codes makes it easy for account holders in Jabalpur to handle online money transfers and get their cheques cleared smoothly.