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. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Bank Of India for its Rahon Road branch in Ludhiana, Ludhiana, or Punjab, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of Bank Of India located in Ludhiana or anywhere in Punjab can transfer funds instantly by using the correct IFSC Code BKID0006594. 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, Rahon Road, Ludhiana
The table below shows the main details of the IFSC Code BKID0006594 for the Bank Of India branch in Ludhiana, which falls under the Ludhiana district in Punjab.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0006594 |
| Branch | Rahon Road |
| City | Ludhiana |
| District | Ludhiana |
| State | Punjab |
| Address | Bank Of Indiarahon Road Branch1251 By 1Near Bsnl Exchangerahon Roadludhianapunjab 141007 |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Ludhiana for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0006594 for the Rahon Road 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 BKID0006594 is given to every bank branch, including Bank Of India located in Rahon 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 Rahon Road doesn't end up at another location.
Format of the IFSC Code BKID0006594
The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown of this:
- First 4 characters (AAAA): Represent the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): Always zero which is reserved for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Rahon Road in Ludhiana.
For example, the IFSC Code BKID0006594 of Bank Of India for the Rahon 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 looking for the IFSC Code BKID0006594 of Bank Of India for its Rahon Road branch located in Ludhiana, the following methods can help:
Cheque Book
The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the 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
You can visit the official website of Bank Of India and look for the branch locator section, then search for Rahon Road or Ludhiana to get the exact IFSC Code BKID0006594.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Ludhiana, then it will provide you proper information.
How to Use IFSC Code BKID0006594 for Online Transfers?
Once you have the IFSC Code BKID0006594 for the Rahon Road branch of Bank Of India in Ludhiana, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0006594. 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 BKID0006594.
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 Rahon Road in Ludhiana, 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 Rahon Road, 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 Ludhiana to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0006594.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Bank Of Indiarahon Road Branch1251 By 1Near Bsnl Exchangerahon Roadludhianapunjab 141007 located in Ludhiana, Ludhiana, Punjab.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.