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 Yari 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 BKID0000105. 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, Yari Road, Mumbai
Here are some of the key details that come with the IFSC Code BKID0000105 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 | BKID0000105 |
| Branch | Yari Road |
| City | Mumbai |
| District | Mumbai |
| State | Maharashtra |
| Address | Kalyan Complexyari Road |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Mumbai for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0000105 for the Yari Road branch of Bank Of India plays an 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 Yari Road, Mumbai, Maharashtra, is provided with a unique IFSC like BKID0000105 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 Yari Road do not get mixed with another location.
Format of the IFSC Code BKID0000105
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 Yari Road in Mumbai.
For example, the IFSC Code BKID0000105 of Bank Of India for the Yari Road 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?
To find the IFSC Code BKID0000105 of Bank Of India for its Yari 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 Yari Road or Mumbai to find the exact IFSC Code BKID0000105.
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 BKID0000105 for Online Transfers?
If you have the IFSC Code BKID0000105 for the Yari Road branch of Bank Of India in Mumbai, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0000105. Transfers are processed in batches. 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. Asks for the recipient's account details and Bank Of India IFSC Code BKID0000105.
Whatever method you choose, the accuracy of the IFSC Code is important and needed. In case there is any mistake in entering the IFSC Code for Bank Of India Yari Road in Mumbai, it may 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 Yari Road, 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 is BKID0000105.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Kalyan Complexyari Road located in Mumbai, Mumbai, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.