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 Phansu branch in Ratnagiri, Phansu, Maharashtra, 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 Ratnagiri or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG3009. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.
Details of IFSC Code for Bank Of India, Phansu, Ratnagiri
Here are the key points that are associated with the IFSC Code BKID0VG3009 of Bank Of India for its branch located in Ratnagiri, within the district of Phansu in the state of Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG3009 |
| Branch | Phansu |
| City | Ratnagiri |
| District | Phansu |
| State | Maharashtra |
| Address | A Pphansu Tal Dapoli Dist Ratnagiripin 415712 |
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 BKID0VG3009 for the Phansu 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 Phansu, Ratnagiri, Maharashtra, are given a unique IFSC like BKID0VG3009 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 Phansu.
- 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 Phansu 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 BKID0VG3009
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): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Phansu in Ratnagiri.
For example, the IFSC Code BKID0VG3009 of Bank Of India for the Phansu branch has these elements, identifying the bank and the branch location in Ratnagiri and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0VG3009 of Bank Of India for its Phansu branch located in Ratnagiri, 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 Ratnagiri and Phansu, 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 Phansu or Ratnagiri to find the exact IFSC Code BKID0VG3009.
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 Ratnagiri will provide accurate information.
How to Use IFSC Code BKID0VG3009 for Online Transfers?
Once you have the IFSC Code BKID0VG3009 for the Phansu branch of Bank Of India in Ratnagiri, you can start with your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0VG3009. Transfers are processed in batches. Suitable for personal and business payments.
RTGS
Used for payments above ₹2 lakh. Real-time settlement using the IFSC Code of the recipient branch.
IMPS
Instant 24×7 transfers. You need the recipient's account details and Bank Of India IFSC Code BKID0VG3009.
Whatever method you choose, the accuracy of the IFSC Code is highly important. If there is any mistake in entering the IFSC Code for Bank Of India Phansu in Ratnagiri, it can result in delayed or failed transactions.
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 Phansu, 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 is BKID0VG3009.
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 A Pphansu Tal Dapoli Dist Ratnagiripin 415712 located in Ratnagiri, Phansu, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.