IFSC Code of Bank Of India, Bhavani Peth, Pune, Maharashtra- BKID0000501

There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Bank Of India for its Bhavani Peth branch in Pune, Pune, Maharashtra, then this comprehensive guide will provide you with detailed information.

The banking system in India has changed over time, and today the customers of Bank Of India situated in Pune or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0000501. You should 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, Bhavani Peth, Pune

Here are the main details that are associated with the IFSC Code BKID0000501 of Bank Of India for its branch located in Pune, within the district of Pune in the state of Maharashtra.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Pune for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0000501 for the Bhavani Peth branch of Bank Of India is vital.

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 Bhavani Peth, Pune, Maharashtra, are given a unique IFSC like BKID0000501 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It clearly tells which bank branch it is in Pune.
• 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 Pune and Pune.
• 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 Bhavani Peth goes to the correct branch. This is important because Bank Of India has thousands of branches in Maharashtra and all over India, and the IFSC Code prevents payments from going to the wrong place.

Format of the IFSC Code BKID0000501

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 Bhavani Peth in Pune.

For example, the IFSC Code BKID0000501 of Bank Of India for the Bhavani Peth branch includes these elements, identifying the bank and the branch location in Pune and Maharashtra correctly.

How to Find IFSC Code for Bank Of India?

To find the IFSC Code BKID0000501 of Bank Of India for its Bhavani Peth branch located in Pune, 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 Pune and Pune, 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 Bhavani Peth or Pune to find the exact IFSC Code BKID0000501.

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 Pune will provide accurate information.

How to Use IFSC Code BKID0000501 for Online Transfers?

If you have the IFSC Code BKID0000501 for the Bhavani Peth branch of Bank Of India in Pune, you can easily go ahead with fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code BKID0000501. 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 BKID0000501.

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 Bhavani Peth in Pune, 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 Bhavani Peth, 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 Pune to handle online money transfers and get their cheques cleared smoothly.