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 Balwada branch in Khargone, Khargone, 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 Khargone or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG0259. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Balwada, Khargone
The table below shows the main details of the IFSC Code BKID0MG0259 for the Bank Of India branch in Khargone, which falls under the Khargone district in Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG0259 |
| Branch | Balwada |
| City | Khargone |
| District | Khargone |
| State | Madhya Pradesh |
| Address | Indore Khandwa Road |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Khargone for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG0259 for the Balwada branch of Bank Of India plays an important 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 BKID0MG0259 is given to every bank branch, including Bank Of India located in Balwada, Khargone, 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 Khargone.
- 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 Khargone and Khargone.
- 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 Balwada doesn't end up at another location.
Format of the IFSC Code BKID0MG0259
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 Balwada in Khargone.
For example, the IFSC Code BKID0MG0259 of Bank Of India for the Balwada branch includes these elements, identifying the bank and the branch location in Khargone and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0MG0259 of Bank Of India for its Balwada branch located in Khargone, 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 Khargone and Khargone, 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 Balwada or Khargone to find the exact IFSC Code BKID0MG0259.
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 Khargone will provide accurate information.
How to Use IFSC Code BKID0MG0259 for Online Transfers?
If you have the IFSC Code BKID0MG0259 for the Balwada branch of Bank Of India in Khargone, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0MG0259. Transfers are processed in batches. 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. Asks for the recipient's account details and Bank Of India IFSC Code BKID0MG0259.
Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for Bank Of India Balwada in Khargone, it may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Balwada, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Khargone manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Balwada Khargone branch is BKID0MG0259.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Indore Khandwa Road.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.