IFSC Code of Bank Of India, Lokhandwala Kandivli East, Mumbai, Maharashtra- BKID0000174

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 Lokhandwala Kandivli East branch in Mumbai, Mumbai, Maharashtra, 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 Mumbai or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0000174. 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, Lokhandwala Kandivli East, Mumbai

Here are some of the key details that come with the IFSC Code BKID0000174 of Bank Of India for its branch located in Mumbai, within the district of Mumbai in the state of Maharashtra.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Mumbai for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0000174 for the Lokhandwala Kandivli East branch of Bank Of India is vital.

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, including Bank Of India located in Lokhandwala Kandivli East, Mumbai, Maharashtra, is provided with a unique IFSC like BKID0000174 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It uniquely identifies the Bank Of India branch in Mumbai.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It avoids any errors or confusions between multiple branches of the same bank across different places like Mumbai and Mumbai.
• It reduces errors in fund transfers and improves accuracy.
• It allows sender banks to validate and confirm branch details before processing payments.

There are thousands of branches across Maharashtra and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Lokhandwala Kandivli East do not get mixed with another location.

Format of the IFSC Code BKID0000174

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): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
• 5th character (0): This is always zero and is reserved for future use.
• Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Lokhandwala Kandivli East in Mumbai.

For example, the IFSC Code BKID0000174 of Bank Of India for the Lokhandwala Kandivli East branch has 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 BKID0000174 of Bank Of India for its Lokhandwala Kandivli East branch located in Mumbai, the following methods can help:

Cheque Book

The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.

Passbook

You can easily find the IFSC and MICR codes because most banks, including Bank Of India branches in Mumbai and Mumbai, print them on the first page of your passbook.

Bank Website

Visit the official website of Bank Of India and navigate to the branch locator section. Search for Lokhandwala Kandivli East or Mumbai to get the exact IFSC Code BKID0000174.

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 keeps an updated list of all IFSC codes. If you search for Bank Of India and Mumbai, you'll get the correct details.

How to Use IFSC Code BKID0000174 for Online Transfers?

Once you have the IFSC Code BKID0000174 for the Lokhandwala Kandivli East branch of Bank Of India in Mumbai, you can start with your fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code BKID0000174. 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 BKID0000174.

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 Lokhandwala Kandivli East in Mumbai, 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 Lokhandwala Kandivli East, 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 Mumbai to handle online money transfers and get their cheques cleared smoothly.