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 Jharsuguda branch in Jharsuguda, Jharsuguda, or Odisha, 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 Jharsuguda or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code BKID0005570. 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, Jharsuguda, Jharsuguda
The table below shows the main details of the IFSC Code BKID0005570 for the Bank Of India branch in Jharsuguda, which falls under the Jharsuguda district in Odisha.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0005570 |
| Branch | Jharsuguda |
| City | Jharsuguda |
| District | Jharsuguda |
| State | Odisha |
| Address | Behramal Near Overbrideopp Kalinga Bar Restaurant |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Jharsuguda for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0005570 for the Jharsuguda 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, including Bank Of India located in Jharsuguda, Jharsuguda, Odisha, is provided with a unique IFSC like BKID0005570 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Jharsuguda.
- 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 Jharsuguda and Jharsuguda.
- 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 Odisha and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Jharsuguda do not get mixed with another location.
Format of the IFSC Code BKID0005570
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): 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 Jharsuguda in Jharsuguda.
For example, the IFSC Code BKID0005570 of Bank Of India for the Jharsuguda branch includes these elements, identifying the bank and the branch location in Jharsuguda and Odisha accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0005570 of Bank Of India for its Jharsuguda branch located in Jharsuguda, 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
Most banks, including Bank Of India branches in Jharsuguda and Jharsuguda, print the IFSC and MICR codes 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 Jharsuguda or Jharsuguda to get the exact IFSC Code BKID0005570.
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 Jharsuguda, you'll get the correct details.
How to Use IFSC Code BKID0005570 for Online Transfers?
Once you have the IFSC Code BKID0005570 for the Jharsuguda branch of Bank Of India in Jharsuguda, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0005570. 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 BKID0005570.
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 Jharsuguda in Jharsuguda, 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 Jharsuguda, 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 Jharsuguda to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0005570.
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 Behramal Near Overbrideopp Kalinga Bar Restaurant located in Jharsuguda, Jharsuguda, Odisha.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.