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 City 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 BKID0000506. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Pune City, Pune
Here are some of the key details that come with the IFSC Code BKID0000506 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 | BKID0000506 |
| Branch | Pune City |
| City | Pune |
| District | Pune |
| State | Maharashtra |
| Address | 181 Budhwar Pethpost Box No 508 |
These details help users in online banking and for businesses and individuals who use Bank Of India in Pune for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0000506 for the Pune City 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, including Bank Of India located in Pune City, Pune, Maharashtra, is provided with a unique IFSC like BKID0000506 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Pune.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any errors or confusions between multiple branches of the same bank across different places like Pune and Pune.
- It reduces errors in fund transfers and improves accuracy.
- It allows sender banks to validate and confirm branch details before processing payments.
There are thousands of branches across Maharashtra and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Pune City do not get mixed with another location.
Format of the IFSC Code BKID0000506
This is the format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Pune City in Pune.
For example, the IFSC Code BKID0000506 of Bank Of India for the Pune City 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 trying to find the IFSC Code BKID0000506 of Bank Of India for its Pune City branch located in Pune, 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 Pune and Pune, 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 Pune City or Pune to get the exact IFSC Code BKID0000506.
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 Pune, you'll get the correct details.
How to Use IFSC Code BKID0000506 for Online Transfers?
If you have the IFSC Code BKID0000506 for the Pune City 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 BKID0000506. 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 BKID0000506.
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 Pune City in Pune, it 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 Pune City, 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 Pune manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Pune City Pune branch is BKID0000506.
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 181 Budhwar Pethpost Box No 508.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
