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 Bakhed branch in Rajgarh, Rajgarh, 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 Rajgarh or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG0355. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Bakhed, Rajgarh
The table below shows the main details of the IFSC Code BKID0MG0355 for the Bank Of India branch in Rajgarh, which falls under the Rajgarh district in Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG0355 |
| Branch | Bakhed |
| City | Rajgarh |
| District | Rajgarh |
| State | Madhya Pradesh |
| Address | Gram Bakhed,The Rajgarh,Dist Rajgarh |
These details help users in online banking and for businesses and individuals who use Bank Of India in Rajgarh for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG0355 for the Bakhed 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, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Bakhed, Rajgarh, Madhya Pradesh, is provided a unique IFSC like BKID0MG0355 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Rajgarh.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like Rajgarh and Rajgarh.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Madhya Pradesh and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Bakhed do not get misguided to another person.
Format of the IFSC Code BKID0MG0355
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 Bakhed in Rajgarh.
For example, the IFSC Code BKID0MG0355 of Bank Of India for the Bakhed branch includes these elements, identifying the bank and the branch location in Rajgarh and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0MG0355 of Bank Of India for its Bakhed branch located in Rajgarh, 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 Rajgarh and Rajgarh, 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 Bakhed or Rajgarh to find the exact IFSC Code BKID0MG0355.
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 Rajgarh will provide accurate information.
How to Use IFSC Code BKID0MG0355 for Online Transfers?
Once you have the IFSC Code BKID0MG0355 for the Bakhed branch of Bank Of India in Rajgarh, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0MG0355. 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 BKID0MG0355.
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 Bakhed in Rajgarh, your payment can get delayed or might not go through at all.
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 Bakhed, 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 Rajgarh manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0MG0355.
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 Gram Bakhed,The Rajgarh,Dist Rajgarh located in Rajgarh, Rajgarh, Madhya Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.