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. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Bank Of India for its Naigaum Cross Road branch in Mumbai, Mumbai, or Maharashtra, this guide will help you with all the details.
There have been major changes in the banking sector 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 BKID0000035. 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, Naigaum Cross Road, Mumbai
The table below shows the main details of the IFSC Code BKID0000035 for the Bank Of India branch in Mumbai, which falls under the Mumbai district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0000035 |
| Branch | Naigaum Cross Road |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| Address | 95 Dada Saheb Phalke Roaddadar |
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 BKID0000035 for the Naigaum Cross Road 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 Naigaum Cross Road, Mumbai, Maharashtra, is provided a unique IFSC like BKID0000035 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 Naigaum Cross Road do not get misguided to another person.
Format of the IFSC Code BKID0000035
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 Naigaum Cross Road in Mumbai.
For example, the IFSC Code BKID0000035 of Bank Of India for the Naigaum Cross Road 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 BKID0000035 of Bank Of India for its Naigaum Cross Road 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 Naigaum Cross Road or Mumbai to find the exact IFSC Code BKID0000035.
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 BKID0000035 for Online Transfers?
Once you have the IFSC Code BKID0000035 for the Naigaum Cross Road branch of Bank Of India in Mumbai, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0000035. Transfers are processed in batches. This is suitable for personal and business payments.
RTGS
Used for high-value payments above ₹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 BKID0000035.
Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for Bank Of India Naigaum Cross Road in Mumbai may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Naigaum Cross Road, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Mumbai manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0000035.
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 95 Dada Saheb Phalke Roaddadar located in Mumbai, Mumbai, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.