The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Bank Of India for its Mahim branch in Mumbai, Mumbai, Maharashtra, this complete guide will provide you with detailed information.
The banking system in India has changed over the years, and today customers of Bank Of India located in Mumbai or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0000030. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Mahim, Mumbai
Below in the table are the key details related to IFSC Code BKID0000030 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 | BKID0000030 |
| Branch | Mahim |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| Address | Gohil Houselady Jamshedji Road |
These details help 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 BKID0000030 for the Mahim 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 provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Mahim, Mumbai, Maharashtra, is provided with a unique IFSC like BKID0000030 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 Mahim do not get mixed with another location.
Format of the IFSC Code BKID0000030
This is the format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Mahim in Mumbai.
For example, the IFSC Code BKID0000030 of Bank Of India for the Mahim branch includes these elements, identifying the bank and the branch location in Mumbai and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0000030 of Bank Of India for its Mahim branch located in Mumbai, 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 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 go to the branch locator section. Then search for Mahim or Mumbai to find the exact IFSC Code BKID0000030.
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 Mumbai will provide accurate information.
How to Use IFSC Code BKID0000030 for Online Transfers?
Once you have the IFSC Code BKID0000030 for the Mahim 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 BKID0000030. 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 BKID0000030.
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 Mahim 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 Mahim, 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.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0000030.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is Gohil Houselady Jamshedji Road located in Mumbai, Mumbai, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
