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 Koraput branch in Koraput, Koraput, Odisha, 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 Koraput or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code BKID0005443. 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, Koraput, Koraput
Below in the table are the key details related to IFSC Code BKID0005443 of Bank Of India for its branch located in Koraput, within the district of Koraput in the state of Odisha.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0005443 |
| Branch | Koraput |
| City | Koraput |
| District | Koraput |
| State | Odisha |
| Address | Main Roadatpo Koraputdist Koraputodisha 764020 |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Koraput for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0005443 for the Koraput 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, including Bank Of India located in Koraput, Koraput, Odisha, is provided with a unique IFSC like BKID0005443 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Koraput.
- 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 Koraput and Koraput.
- 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 Koraput do not get mixed with another location.
Format of the IFSC Code BKID0005443
This is the format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Koraput in Koraput.
For example, the IFSC Code BKID0005443 of Bank Of India for the Koraput branch includes these elements, identifying the bank and the branch location in Koraput and Odisha accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0005443 of Bank Of India for its Koraput branch located in Koraput, 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 Koraput and Koraput, 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 Koraput or Koraput to get the exact IFSC Code BKID0005443.
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 Koraput that will provide accurate information.
How to Use IFSC Code BKID0005443 for Online Transfers?
Once you have the IFSC Code BKID0005443 for the Koraput branch of Bank Of India in Koraput, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0005443. 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 BKID0005443.
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 Koraput in Koraput, 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 Koraput, 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 Koraput manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Koraput Koraput branch is BKID0005443.
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 Main Roadatpo Koraputdist Koraputodisha 764020.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.