IFSC Code of Bank Of India, Phansavane, Phansavane, Maharashtra- BKID0VG3016

There is one important element for digital banking and online financial transactions in India that ensures seamless and accurate fund transfers is the IFSC Code. For sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to make the route of your payment to the right branch. In case you are searching for the IFSC Code of Bank Of India for its Phansavane branch in Ratnagiri, Phansavane, Maharashtra, then this comprehensive guide will provide you with detailed information.

The banking system in India has changed over time, and today the customers of Bank Of India situated in Ratnagiri or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0VG3016. You should 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, Phansavane, Ratnagiri

Here are some of the key details that come with the IFSC Code BKID0VG3016 of Bank Of India for its branch located in Ratnagiri, within the district of Phansavane in the state of Maharashtra.

These details help users in online banking and for businesses and individuals who use Bank Of India in Ratnagiri for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0VG3016 for the Phansavane 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, an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, along with Bank Of India located in Phansavane, Ratnagiri, Maharashtra, are given a unique IFSC like BKID0VG3016 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 any kind of confusion between different branches of the same bank in places like Ratnagiri and Phansavane.
• It reduces errors in fund transfers and improves accuracy.
• It helps the sender banks to validate and confirm branch details before processing payments.

It helps ensure that any money sent to Bank Of India in Phansavane goes to the correct branch. This is important because Bank Of India has thousands of branches in Maharashtra and all over India, and the IFSC Code prevents payments from going to the wrong place.

Format of the IFSC Code BKID0VG3016

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 Phansavane in Ratnagiri.

For example, the IFSC Code BKID0VG3016 of Bank Of India for the Phansavane branch includes these elements, identifying the bank and the branch location in Ratnagiri and Maharashtra correctly.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0VG3016 of Bank Of India for its Phansavane branch located in Ratnagiri, the following methods can help:

Cheque Book

The cheque books that are issued by Bank Of India include the IFSC Code which is printed on each cheque and you can easily spot the code on the top section.

Passbook

Most banks, including Bank Of India branches in Ratnagiri and Phansavane, print the IFSC and MICR codes on the first page of the passbook.

Bank Website

Visit the official website of Bank Of India and find the branch locator section. Search for Phansavane or Ratnagiri to get the exact IFSC Code BKID0VG3016.

Mobile Banking App

If you use Bank Of India's mobile app, you can easily 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 to help you in searching for Bank Of India and Ratnagiri that will provide accurate information.

How to Use IFSC Code BKID0VG3016 for Online Transfers?

Once you have the IFSC Code BKID0VG3016 for the Phansavane 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 BKID0VG3016. The transfer is completed in batches instead of instantly. It is useful for both personal and business payments.

RTGS

Used for high-value payments above ₹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 BKID0VG3016.

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 Phansavane in Ratnagiri, 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 Phansavane, 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 Ratnagiri manage online transfers as well as cheque clearances with ease.