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 Nate branch in Ratnagiri, Rajapur, Maharashtra, 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 Ratnagiri or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0001490. 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, Nate, Ratnagiri
Below in the table are the key details related to IFSC Code BKID0001490 of Bank Of India for its branch located in Ratnagiri, within the district of Rajapur in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0001490 |
| Branch | Nate |
| City | Ratnagiri |
| District | Rajapur |
| State | Maharashtra |
| Address | Grampanchayat Office At Post Nate Taluka Rajapur 415806 |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Ratnagiri for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0001490 for the Nate 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 provided by the Reserve Bank of India. Every bank branch, along with Bank Of India located in Nate, Ratnagiri, Maharashtra, are allotted a unique IFSC like BKID0001490 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Ratnagiri.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Ratnagiri and Rajapur.
- It reduces errors in fund transfers and improves accuracy.
- It helps the sender banks to validate and confirm branch details before processing payments.
It makes sure that money sent to Bank Of India in Nate reaches the right place, even though there are thousands of branches in Maharashtra and across India.
Format of the IFSC Code BKID0001490
The format of the IFSC Code for banks, including Bank Of India, follows 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 Nate in Ratnagiri.
For example, the IFSC Code BKID0001490 of Bank Of India for the Nate branch includes these elements, identifying the bank and the branch location in Ratnagiri and Maharashtra accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0001490 of Bank Of India for its Nate branch located in Ratnagiri, 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 Ratnagiri and Rajapur, 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 Nate or Ratnagiri to get the exact IFSC Code BKID0001490.
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 Ratnagiri, you'll get the correct details.
How to Use IFSC Code BKID0001490 for Online Transfers?
Once you have the IFSC Code BKID0001490 for the Nate branch of Bank Of India in Ratnagiri, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0001490. 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 BKID0001490.
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 Nate in Ratnagiri, 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 Nate, 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 Ratnagiri manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code of the Nate Ratnagiri branch is BKID0001490.
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 Grampanchayat Office At Post Nate Taluka Rajapur 415806.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.
