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 Belona branch in Nagpur, Belona, 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 Nagpur or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG5058. 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, Belona, Nagpur
Below in the table are the key details related to IFSC Code BKID0VG5058 of Bank Of India for its branch located in Nagpur, within the district of Belona in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG5058 |
| Branch | Belona |
| City | Nagpur |
| District | Belona |
| State | Maharashtra |
| Address | Coshymsundar Ganpatrao Saosakade Atpo Belona Tq Narkhed Dist Nagpur 411304 |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Nagpur for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG5058 for the Belona branch of Bank Of India has 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 Belona, Nagpur, Maharashtra, is provided with a unique IFSC like BKID0VG5058 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Nagpur.
- 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 Nagpur and Belona.
- 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 Belona do not get mixed with another location.
Format of the IFSC Code BKID0VG5058
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 Belona in Nagpur.
For example, the IFSC Code BKID0VG5058 of Bank Of India for the Belona branch includes these elements, identifying the bank and the branch location in Nagpur and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0VG5058 of Bank Of India for its Belona branch located in Nagpur, 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 Nagpur and Belona, 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 Belona or Nagpur to get the exact IFSC Code BKID0VG5058.
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 Nagpur that will provide accurate information.
How to Use IFSC Code BKID0VG5058 for Online Transfers?
If you have the IFSC Code BKID0VG5058 for the Belona branch of Bank Of India in Nagpur, you can easily go ahead with fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0VG5058. 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 BKID0VG5058.
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 Belona in Nagpur, 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 Belona, 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 Nagpur manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0VG5058.
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 Coshymsundar Ganpatrao Saosakade Atpo Belona Tq Narkhed Dist Nagpur 411304 located in Nagpur, Belona, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.