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 Bhaugha branch in Mandsaur, Mandsaur, 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 Mandsaur or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG1402. 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, Bhaugha, Mandsaur
Below in the table are the key details related to IFSC Code BKID0MG1402 of Bank Of India for its branch located in Mandsaur, within the district of Mandsaur in the state of Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG1402 |
| Branch | Bhaugha |
| City | Mandsaur |
| District | Mandsaur |
| State | Madhya Pradesh |
| Address | Vill Po.Bhaugadh 458667 |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Mandsaur for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG1402 for the Bhaugha 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 provided by the Reserve Bank of India. Every bank branch, along with Bank Of India located in Bhaugha, Mandsaur, Madhya Pradesh, are allotted a unique IFSC like BKID0MG1402 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Mandsaur.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Mandsaur and Mandsaur.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to Bank Of India in Bhaugha reaches the right place, even though there are thousands of branches in Madhya Pradesh and across India.
Format of the IFSC Code BKID0MG1402
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 Bhaugha in Mandsaur.
For example, the IFSC Code BKID0MG1402 of Bank Of India for the Bhaugha branch includes these elements, identifying the bank and the branch location in Mandsaur and Madhya Pradesh accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0MG1402 of Bank Of India for its Bhaugha branch located in Mandsaur, 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 Mandsaur and Mandsaur, 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 Bhaugha or Mandsaur to find the exact IFSC Code BKID0MG1402.
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 Mandsaur will provide accurate information.
How to Use IFSC Code BKID0MG1402 for Online Transfers?
Once you have the IFSC Code BKID0MG1402 for the Bhaugha branch of Bank Of India in Mandsaur, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0MG1402. 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 BKID0MG1402.
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 Bhaugha in Mandsaur, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Bank Of India in Bhaugha, here are some of the ways 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.
Knowing both IFSC and MICR code can help account holders in Mandsaur manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0MG1402.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Vill Po.Bhaugadh 458667 located in Mandsaur, Mandsaur, Madhya Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.