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 Panaspada branch in Puri, Panaspada, Odisha, 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 Puri or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code BKID0005163. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Panaspada, Puri
Below in the table are the key details related to IFSC Code BKID0005163 of Bank Of India for its branch located in Puri, within the district of Panaspada in the state of Odisha.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0005163 |
| Branch | Panaspada |
| City | Puri |
| District | Panaspada |
| State | Odisha |
| Address | At Po Panaspada Dist Puri Odisha 752011 |
These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Puri for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0005163 for the Panaspada 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 provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Panaspada, Puri, Odisha, is provided with a unique IFSC like BKID0005163 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Puri.
- 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 Puri and Panaspada.
- 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 Odisha and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Panaspada do not get mixed with another location.
Format of the IFSC Code BKID0005163
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 Panaspada in Puri.
For example, the IFSC Code BKID0005163 of Bank Of India for the Panaspada branch includes these elements, identifying the bank and the branch location in Puri and Odisha accurately.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0005163 of Bank Of India for its Panaspada branch located in Puri, 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 Puri and Panaspada, 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 Panaspada or Puri to find the exact IFSC Code BKID0005163.
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 Puri will provide accurate information.
How to Use IFSC Code BKID0005163 for Online Transfers?
Once you have the IFSC Code BKID0005163 for the Panaspada branch of Bank Of India in Puri, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0005163. The transfer is completed in batches. It is useful for both personal and business payments.
RTGS
Used for payments over ₹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 BKID0005163.
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 Panaspada in Puri, your payment can get delayed or might not go through at all.
Finding the MICR Code
MICR codes are used for cheque clearance and are very different from IFSC codes. If you are looking for the MICR code of Bank Of India in Panaspada, here are some of the ways 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.
Knowing both IFSC and MICR code can help account holders in Puri manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code of the Panaspada Puri branch is BKID0005163.
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 Panaspada Dist Puri Odisha 752011.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.