For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Bank Of India for its Parda branch in Neemuch, Neemuch, Madhya Pradesh, this comprehensive guide will provide you with detailed information.
The banking system in India has changed significantly over the years, and today customers of Bank Of India located in Neemuch or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG1426. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Parda, Neemuch
The table below shows the main details of the IFSC Code BKID0MG1426 for the Bank Of India branch in Neemuch, which falls under the Neemuch district in Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG1426 |
| Branch | Parda |
| City | Neemuch |
| District | Neemuch |
| State | Madhya Pradesh |
| Address | Parda,Teh.Manasa, Neemuch |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Neemuch for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG1426 for the Parda 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 that is provided by the Reserve Bank of India. A unique IFSC like BKID0MG1426 is given to every bank branch, including Bank Of India located in Parda, Neemuch, Madhya Pradesh, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Neemuch.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Neemuch and Neemuch.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Madhya Pradesh and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Parda doesn't end up at another location.
Format of the IFSC Code BKID0MG1426
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 Parda in Neemuch.
For example, the IFSC Code BKID0MG1426 of Bank Of India for the Parda branch includes these elements, identifying the bank and the branch location in Neemuch and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0MG1426 of Bank Of India for its Parda branch located in Neemuch, 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 Neemuch and Neemuch, 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 Parda or Neemuch to find the exact IFSC Code BKID0MG1426.
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 Neemuch will provide accurate information.
How to Use IFSC Code BKID0MG1426 for Online Transfers?
Once you have the IFSC Code BKID0MG1426 for the Parda branch of Bank Of India in Neemuch, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0MG1426. The transfer is completed in batches instead of instantly. It is useful for both 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 BKID0MG1426.
No matter which payment method you use, the IFSC Code must be correct. If you enter the wrong IFSC Code for the Bank Of India Parda in Neemuch, your payment can get delayed or might not go through at all.
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 Parda, 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 Neemuch manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0MG1426.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Parda,Teh.Manasa, Neemuch located in Neemuch, Neemuch, Madhya Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
