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 Mongargaon branch in Khargone, Khargone, Madhya Pradesh, 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 Khargone or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG0249. 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, Mongargaon, Khargone
Below in the table are the key details related to IFSC Code BKID0MG0249 of Bank Of India for its branch located in Khargone, within the district of Khargone in the state of Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG0249 |
| Branch | Mongargaon |
| City | Khargone |
| District | Khargone |
| State | Madhya Pradesh |
| Address | Mongargaon |
These details help users in online banking and for businesses and individuals who use Bank Of India in Khargone for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG0249 for the Mongargaon branch of Bank Of India has a very important role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Mongargaon, Khargone, Madhya Pradesh, is provided a unique IFSC like BKID0MG0249 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Khargone.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like Khargone and Khargone.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Madhya Pradesh and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Mongargaon do not get misguided to another person.
Format of the IFSC Code BKID0MG0249
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 Mongargaon in Khargone.
For example, the IFSC Code BKID0MG0249 of Bank Of India for the Mongargaon branch has these elements, identifying the bank and the branch location in Khargone and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0MG0249 of Bank Of India for its Mongargaon branch located in Khargone, 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 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 find the branch locator section. Search for Mongargaon or Khargone to get the exact IFSC Code BKID0MG0249.
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 Khargone that will provide accurate information.
How to Use IFSC Code BKID0MG0249 for Online Transfers?
Once you have the IFSC Code BKID0MG0249 for the Mongargaon branch of Bank Of India in Khargone, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0MG0249. 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 BKID0MG0249.
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 Mongargaon in Khargone, 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 Mongargaon, 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 Khargone to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code of the Mongargaon Khargone branch is BKID0MG0249.
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 Mongargaon.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.