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 Ganeshpuri branch in Mapuca, Mapuca, Goa, 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 Mapuca or anywhere in Goa can transfer funds instantly by using the correct IFSC Code BKID0001031. 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, Ganeshpuri, Mapuca
The table below shows the main details of the IFSC Code BKID0001031 for the Bank Of India branch in Mapuca, which falls under the Mapuca district in Goa.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0001031 |
| Branch | Ganeshpuri |
| City | Mapuca |
| District | Mapuca |
| State | Goa |
| Address | Radha Vasudev Smrutiganeshpuri |
These details help users in online banking and for businesses and individuals who use Bank Of India in Mapuca for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0001031 for the Ganeshpuri branch of Bank Of India has a very 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 BKID0001031 is given to every bank branch, including Bank Of India located in Ganeshpuri, Mapuca, Goa, 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 Mapuca.
- 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 Mapuca and Mapuca.
- 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 Goa and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Ganeshpuri doesn't end up at another location.
Format of the IFSC Code BKID0001031
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 Ganeshpuri in Mapuca.
For example, the IFSC Code BKID0001031 of Bank Of India for the Ganeshpuri branch includes these elements, identifying the bank and the branch location in Mapuca and Goa accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0001031 of Bank Of India for its Ganeshpuri branch located in Mapuca, 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 Mapuca and Mapuca, 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 Ganeshpuri or Mapuca to find the exact IFSC Code BKID0001031.
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 Mapuca will provide accurate information.
How to Use IFSC Code BKID0001031 for Online Transfers?
Once you have the IFSC Code BKID0001031 for the Ganeshpuri branch of Bank Of India in Mapuca, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0001031. 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 BKID0001031.
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 Ganeshpuri in Mapuca, it can result in delayed or failed transactions.
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 Ganeshpuri, 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 Mapuca manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0001031.
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 Radha Vasudev Smrutiganeshpuri located in Mapuca, Mapuca, Goa.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.