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 Pune branch in Pune, Pune, Maharashtra, 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 Pune or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0000500. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Pune, Pune
Here are some of the key details that come with the IFSC Code BKID0000500 of Bank Of India for its branch located in Pune, within the district of Pune in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0000500 |
| Branch | Pune |
| City | Pune |
| District | Pune |
| State | Maharashtra |
| Address | 8A Dr Goyaji Roadpost Box No 56 |
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 BKID0000500 for the Pune 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 Pune, Pune, Maharashtra, are given a unique IFSC like BKID0000500 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 Pune 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 BKID0000500
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 Pune in Pune.
For example, the IFSC Code BKID0000500 of Bank Of India for the Pune branch includes these elements, identifying the bank and the branch location in Pune and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
If you are looking for the IFSC Code BKID0000500 of Bank Of India for its Pune branch located in Pune, the following methods can help:
Cheque Book
The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the 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
You can visit the official website of Bank Of India and look for the branch locator section, then search for Pune or Pune to get the exact IFSC Code BKID0000500.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Pune, then it will provide you proper information.
How to Use IFSC Code BKID0000500 for Online Transfers?
Once you have the IFSC Code BKID0000500 for the Pune branch of Bank Of India in Pune, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0000500. 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 BKID0000500.
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 Pune in Pune 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 Pune, 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.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0000500.
Yes, but it can change during merging or restructuring of the bank.
No, MICR is for cheque clearing and IFSC is for online transfers.
You can find it on your chequebook, passbook, the bank's website, the mobile app, or on the RBI portal.
The address of the branch is 8A Dr Goyaji Roadpost Box No 56 located in Pune, Pune, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.