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 Dhoswas branch in Ratlam, Ratlam, Madhya Pradesh, 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 Ratlam or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG1443. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Dhoswas, Ratlam
The table below shows the main details of the IFSC Code BKID0MG1443 for the Bank Of India branch in Ratlam, which falls under the Ratlam district in Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG1443 |
| Branch | Dhoswas |
| City | Ratlam |
| District | Ratlam |
| State | Madhya Pradesh |
| Address | Dhoswas,Teh.Ratlam |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Ratlam for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0MG1443 for the Dhoswas 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 BKID0MG1443 is given to every bank branch, including Bank Of India located in Dhoswas, Ratlam, 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 Ratlam.
- 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 Ratlam and Ratlam.
- 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 Dhoswas doesn't end up at another location.
Format of the IFSC Code BKID0MG1443
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 Dhoswas in Ratlam.
For example, the IFSC Code BKID0MG1443 of Bank Of India for the Dhoswas branch includes these elements, identifying the bank and the branch location in Ratlam and Madhya Pradesh correctly.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0MG1443 of Bank Of India for its Dhoswas branch located in Ratlam, 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
You can easily find the IFSC and MICR codes because most banks, including Bank Of India branches in Ratlam and Ratlam, print them 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 Dhoswas or Ratlam to get the exact IFSC Code BKID0MG1443.
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 Ratlam, you'll get the correct details.
How to Use IFSC Code BKID0MG1443 for Online Transfers?
Once you have the IFSC Code BKID0MG1443 for the Dhoswas branch of Bank Of India in Ratlam, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0MG1443. 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 BKID0MG1443.
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 Dhoswas in Ratlam, 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 Dhoswas, 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 Ratlam manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0MG1443.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Dhoswas,Teh.Ratlam located in Ratlam, Ratlam, Madhya Pradesh.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
