IFSC Code of Bank Of India, Kotam, Kotam Distgumla, Jharkhand- BKID0004572

There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Bank Of India for its Kotam branch in Kotam (Dist.Gumla), Kotam Distgumla, Jharkhand, then this comprehensive guide will provide you with detailed information.

The banking system in India has changed over time, and today the customers of Bank Of India situated in Kotam (Dist.Gumla) or anywhere in Jharkhand can easily transfer funds instantly by using the correct IFSC Code BKID0004572. You should 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, Kotam, Kotam (Dist.Gumla)

Below in the table are the key details related to IFSC Code BKID0004572 of Bank Of India for its branch located in Kotam (Dist.Gumla), within the district of Kotam Distgumla in the state of Jharkhand.

These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Kotam (Dist.Gumla) for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0004572 for the Kotam 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 provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Kotam, Kotam (Dist.Gumla), Jharkhand, is provided with a unique IFSC like BKID0004572 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It uniquely identifies the Bank Of India branch in Kotam (Dist.Gumla).
• 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 Kotam (Dist.Gumla) and Kotam Distgumla.
• 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 Jharkhand and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Kotam do not get mixed with another location.

Format of the IFSC Code BKID0004572

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 Kotam in Kotam (Dist.Gumla).

For example, the IFSC Code BKID0004572 of Bank Of India for the Kotam branch includes these elements, identifying the bank and the branch location in Kotam (Dist.Gumla) and Jharkhand accurately.

How to Find IFSC Code for Bank Of India?

To find the IFSC Code BKID0004572 of Bank Of India for its Kotam branch located in Kotam (Dist.Gumla), 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 Kotam (Dist.Gumla) and Kotam Distgumla, 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 Kotam or Kotam (Dist.Gumla) to find the exact IFSC Code BKID0004572.

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 Kotam (Dist.Gumla) will provide accurate information.

How to Use IFSC Code BKID0004572 for Online Transfers?

Once you have the IFSC Code BKID0004572 for the Kotam branch of Bank Of India in Kotam (Dist.Gumla), you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0004572. 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 BKID0004572.

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 Kotam in Kotam (Dist.Gumla), 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 Kotam, 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 Kotam (Dist.Gumla) manage online transfers as well as cheque clearances with ease.