Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of Bank Of India for its Lakhanwas branch in Rajgarh, Rajgarh, Madhya Pradesh, then this guide will give you detailed information.
The banking system has evolved significantly in India, and today the customers of Bank Of India located in Rajgarh or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG0321. You should definitely 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, Lakhanwas, Rajgarh
The table below shows the main details of the IFSC Code BKID0MG0321 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 | BKID0MG0321 |
| Branch | Lakhanwas |
| City | Rajgarh |
| District | Rajgarh |
| State | Madhya Pradesh |
| Address | Vp Lakhanwas Teh Biaora, Dist Rajgarh |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Rajgarh for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0MG0321 for the Lakhanwas 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 that is provided by the Reserve Bank of India. A unique IFSC like BKID0MG0321 is given to every bank branch, including Bank Of India located in Lakhanwas, Rajgarh, Madhya Pradesh, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Rajgarh.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Rajgarh and Rajgarh.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Madhya Pradesh and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Lakhanwas doesn't end up at another location.
Format of the IFSC Code BKID0MG0321
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 Lakhanwas in Rajgarh.
For example, the IFSC Code BKID0MG0321 of Bank Of India for the Lakhanwas branch includes these elements, identifying the bank and the branch location in Rajgarh and Madhya Pradesh accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0MG0321 of Bank Of India for its Lakhanwas branch located in Rajgarh, 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 Rajgarh and Rajgarh, 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 Lakhanwas or Rajgarh to get the exact IFSC Code BKID0MG0321.
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 Rajgarh, you'll get the correct details.
How to Use IFSC Code BKID0MG0321 for Online Transfers?
Once you have the IFSC Code BKID0MG0321 for the Lakhanwas 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 BKID0MG0321. 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 BKID0MG0321.
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 Lakhanwas in Rajgarh, 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 Lakhanwas, 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 Rajgarh manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code of the Lakhanwas Rajgarh branch is BKID0MG0321.
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 Vp Lakhanwas Teh Biaora, Dist Rajgarh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.