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 Umred branch in Nagpur, Umred, 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 BKID0VG5048. 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, Umred, Nagpur
Below in the table are the key details related to IFSC Code BKID0VG5048 of Bank Of India for its branch located in Nagpur, within the district of Umred in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG5048 |
| Branch | Umred |
| City | Nagpur |
| District | Umred |
| State | Maharashtra |
| Address | Vidharbha Kokan Gramin Bank Umred Mane Bhavan Girda Road Bypass Chowk Umrednagpurmaharashtra441203India Phone |
These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Nagpur for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG5048 for the Umred 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, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Umred, Nagpur, Maharashtra, is provided a unique IFSC like BKID0VG5048 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Nagpur.
- 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 Nagpur and Umred.
- 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 Umred do not get misguided to another person.
Format of the IFSC Code BKID0VG5048
The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the breakdown of this:
- First 4 characters (AAAA): Represent the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): Always zero which is reserved for future use.
- Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Umred in Nagpur.
For example, the IFSC Code BKID0VG5048 of Bank Of India for the Umred branch includes these elements, identifying the bank and the branch location in Nagpur and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0VG5048 of Bank Of India for its Umred branch located in Nagpur, 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
Most banks, including Bank Of India branches in Nagpur and Umred, print the IFSC and MICR codes 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 Umred or Nagpur to get the exact IFSC Code BKID0VG5048.
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 Nagpur, you'll get the correct details.
How to Use IFSC Code BKID0VG5048 for Online Transfers?
Once you have the IFSC Code BKID0VG5048 for the Umred branch of Bank Of India in Nagpur, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0VG5048. 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 BKID0VG5048.
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 Umred in Nagpur 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 Umred, 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 Nagpur manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0VG5048.
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 Vidharbha Kokan Gramin Bank Umred Mane Bhavan Girda Road Bypass Chowk Umrednagpurmaharashtra441203India Phone located in Nagpur, Umred, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.