IFSC Code of Bank Of India, Barewal Road, Ludhiana, Punjab — BKID0006494

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 Barewal Road branch in Ludhiana, Ludhiana, Punjab, 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 Ludhiana or anywhere in Punjab can easily transfer funds instantly by using the correct IFSC Code BKID0006494. 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, Barewal Road, Ludhiana

Here are the key points that are associated with the IFSC Code BKID0006494 of Bank Of India for its branch located in Ludhiana, within the district of Ludhiana in the state of Punjab.

These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Ludhiana for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0006494 for the Barewal Road branch of Bank Of India has 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 BKID0006494 is given to every bank branch, including Bank Of India located in Barewal Road, Ludhiana, Punjab, 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 Ludhiana.
• 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 Ludhiana and Ludhiana.
• 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 Punjab and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Barewal Road doesn't end up at another location.

Format of the IFSC Code BKID0006494

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 Barewal Road in Ludhiana.

For example, the IFSC Code BKID0006494 of Bank Of India for the Barewal Road branch includes these elements, identifying the bank and the branch location in Ludhiana and Punjab accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0006494 of Bank Of India for its Barewal Road branch located in Ludhiana, 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 Ludhiana and Ludhiana, 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 Barewal Road or Ludhiana to get the exact IFSC Code BKID0006494.

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 Ludhiana that will provide accurate information.

How to Use IFSC Code BKID0006494 for Online Transfers?

Once you have the IFSC Code BKID0006494 for the Barewal Road branch of Bank Of India in Ludhiana, you can start with your fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code BKID0006494. Transfers are processed in batches. Suitable for personal and business payments.

RTGS

Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.

IMPS

Instant 24×7 transfers. You need the recipient's account details and Bank Of India IFSC Code BKID0006494.

Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Bank Of India Barewal Road in Ludhiana, it can 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 Barewal Road, 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 Ludhiana manage online transfers as well as cheque clearances with ease.