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. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Bank Of India for its Goraya branch in Jallandhar, Jallandhar, or Punjab, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of Bank Of India located in Jallandhar or anywhere in Punjab can transfer funds instantly by using the correct IFSC Code BKID0006414. 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, Goraya, Jallandhar
The table below shows the main details of the IFSC Code BKID0006414 for the Bank Of India branch in Jallandhar, which falls under the Jallandhar district in Punjab.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0006414 |
| Branch | Goraya |
| City | Jallandhar |
| District | Jallandhar |
| State | Punjab |
| Address | High Life Furnitureg T Road Goraya |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Jallandhar for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0006414 for the Goraya 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 Goraya, Jallandhar, Punjab, are given a unique IFSC like BKID0006414 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Jallandhar.
- 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 Jallandhar and Jallandhar.
- 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 Goraya goes to the correct branch. This is important because Bank Of India has thousands of branches in Punjab and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0006414
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 Goraya in Jallandhar.
For example, the IFSC Code BKID0006414 of Bank Of India for the Goraya branch has these elements, identifying the bank and the branch location in Jallandhar and Punjab correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0006414 of Bank Of India for its Goraya branch located in Jallandhar, 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 Jallandhar and Jallandhar, 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 Goraya or Jallandhar to find the exact IFSC Code BKID0006414.
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 Jallandhar will provide accurate information.
How to Use IFSC Code BKID0006414 for Online Transfers?
Once you have the IFSC Code BKID0006414 for the Goraya branch of Bank Of India in Jallandhar, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0006414. 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 BKID0006414.
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 Goraya in Jallandhar 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 Goraya, 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 Jallandhar manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0006414.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is High Life Furnitureg T Road Goraya located in Jallandhar, Jallandhar, Punjab.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.