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 Nayagarh branch in Nayagarh (Orissa), Nayagarh Orissa, Odisha, 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 Nayagarh (Orissa) or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code BKID0005437. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Nayagarh, Nayagarh (Orissa)
Below in the table are the key details related to IFSC Code BKID0005437 of Bank Of India for its branch located in Nayagarh (Orissa), within the district of Nayagarh Orissa in the state of Odisha.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0005437 |
| Branch | Nayagarh |
| City | Nayagarh (Orissa) |
| District | Nayagarh Orissa |
| State | Odisha |
| Address | At Po Nayagarhdistt Keonjhar |
These details help users in online banking and for businesses and individuals who use Bank Of India in Nayagarh (Orissa) for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0005437 for the Nayagarh 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, along with Bank Of India located in Nayagarh, Nayagarh (Orissa), Odisha, are given a unique IFSC like BKID0005437 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Nayagarh (Orissa).
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents any kind of confusion between different branches of the same bank in places like Nayagarh (Orissa) and Nayagarh Orissa.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It helps ensure that any money sent to Bank Of India in Nayagarh goes to the correct branch. This is important because Bank Of India has thousands of branches in Odisha and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0005437
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 Nayagarh in Nayagarh (Orissa).
For example, the IFSC Code BKID0005437 of Bank Of India for the Nayagarh branch includes these elements, identifying the bank and the branch location in Nayagarh (Orissa) and Odisha correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0005437 of Bank Of India for its Nayagarh branch located in Nayagarh (Orissa), 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
You can easily find the IFSC and MICR codes because most banks, including Bank Of India branches in Nayagarh (Orissa) and Nayagarh Orissa, print them 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 Nayagarh or Nayagarh (Orissa) to get the exact IFSC Code BKID0005437.
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 Nayagarh (Orissa), you'll get the correct details.
How to Use IFSC Code BKID0005437 for Online Transfers?
Once you have the IFSC Code BKID0005437 for the Nayagarh branch of Bank Of India in Nayagarh (Orissa), you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0005437. 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 BKID0005437.
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 Nayagarh in Nayagarh (Orissa) 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 Nayagarh, 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 Nayagarh (Orissa) to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code of the Nayagarh Nayagarh (Orissa) branch is BKID0005437.
Yes, the IFSC Code remains the same unless the bank undergoes a merger or restructuring.
No. IFSC is used for online fund transfers, while MICR is used for cheque processing and clearance.
You can find it on cheque books, passbooks, bank websites, mobile banking apps, and the RBI website.
The branch is located at At Po Nayagarhdistt Keonjhar.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.