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. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of Bank Of India for its Kandra branch in Jamshedpur, Jamshedpur, Jharkhand, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Bank Of India located in Jamshedpur or anywhere in Jharkhand can transfer funds instantly by using the correct IFSC Code BKID0005959. 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, Kandra, Jamshedpur
Below in the table are the key details related to IFSC Code BKID0005959 of Bank Of India for its branch located in Jamshedpur, within the district of Jamshedpur in the state of Jharkhand.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0005959 |
| Branch | Kandra |
| City | Jamshedpur |
| District | Jamshedpur |
| State | Jharkhand |
| Address | Kandra Bazar Po Kandra Block Gamhariadistrict Seraikela Kharsawan |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Jamshedpur for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0005959 for the Kandra 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 provided by the Reserve Bank of India. Every bank branch, along with Bank Of India located in Kandra, Jamshedpur, Jharkhand, are given a unique IFSC like BKID0005959 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Jamshedpur.
- 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 Jamshedpur and Jamshedpur.
- 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 Kandra goes to the correct branch. This is important because Bank Of India has thousands of branches in Jharkhand and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0005959
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 Kandra in Jamshedpur.
For example, the IFSC Code BKID0005959 of Bank Of India for the Kandra branch has these elements, identifying the bank and the branch location in Jamshedpur and Jharkhand correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0005959 of Bank Of India for its Kandra branch located in Jamshedpur, 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 Jamshedpur and Jamshedpur, 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 Kandra or Jamshedpur to get the exact IFSC Code BKID0005959.
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 Jamshedpur that will provide accurate information.
How to Use IFSC Code BKID0005959 for Online Transfers?
Once you have the IFSC Code BKID0005959 for the Kandra branch of Bank Of India in Jamshedpur, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0005959. 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 BKID0005959.
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 Kandra in Jamshedpur, 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 Kandra, 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 Jamshedpur manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0005959.
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 Kandra Bazar Po Kandra Block Gamhariadistrict Seraikela Kharsawan located in Jamshedpur, Jamshedpur, Jharkhand.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.