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 Breach Candy branch in Mumbai, Mumbai, Maharashtra, 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 Mumbai or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0000007. 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, Breach Candy, Mumbai
Below in the table are the key details related to IFSC Code BKID0000007 of Bank Of India for its branch located in Mumbai, within the district of Mumbai in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0000007 |
| Branch | Breach Candy |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| Address | Sky Scraper A4 697Bhulabhai Desai Roadmumbai 400026 |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Mumbai for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0000007 for the Breach Candy branch of Bank Of India plays a vital role.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Breach Candy, Mumbai, Maharashtra, is provided a unique IFSC like BKID0000007 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Mumbai.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like Mumbai and Mumbai.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Maharashtra and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Breach Candy do not get misguided to another person.
Format of the IFSC Code BKID0000007
The format of the IFSC Code for banks, including Bank Of India, has 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 Breach Candy in Mumbai.
For example, the IFSC Code BKID0000007 of Bank Of India for the Breach Candy branch includes these elements, identifying the bank and the branch location in Mumbai and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0000007 of Bank Of India for its Breach Candy branch located in Mumbai, 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 Mumbai and Mumbai, 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 Breach Candy or Mumbai to get the exact IFSC Code BKID0000007.
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 Mumbai that will provide accurate information.
How to Use IFSC Code BKID0000007 for Online Transfers?
Once you have the IFSC Code BKID0000007 for the Breach Candy branch of Bank Of India in Mumbai, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0000007. 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 BKID0000007.
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 Breach Candy in Mumbai, 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 Breach Candy, 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 Mumbai manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Breach Candy Mumbai branch is BKID0000007.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at Sky Scraper A4 697Bhulabhai Desai Roadmumbai 400026.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.