IFSC Code of Bank Of India, Chend Housing Colony, Rourkela, Odisha — BKID0005206

For digital banking and online financial transactions in India, one essential element that makes sure of a seamless and accurate fund transfers is the IFSC Code. If you are sending money through NEFT, RTGS, or IMPS, the bank asks you to enter the correct IFSC Code to route your payment to the right branch. And so, in case you are searching for the IFSC Code of Bank Of India for its Chend Housing Colony branch in Rourkela, Rourkela, Odisha, this comprehensive guide will provide you with detailed information.

The banking system in India has changed significantly over the years, and today customers of Bank Of India located in Rourkela or anywhere in Odisha can transfer funds instantly by using the correct IFSC Code BKID0005206. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.

Details of IFSC Code for Bank Of India, Chend Housing Colony, Rourkela

The table below shows the main details of the IFSC Code BKID0005206 for the Bank Of India branch in Rourkela, which falls under the Rourkela district in Odisha.

These details are crucial, not just for online banking users but also for businesses and individuals who use Bank Of India in Rourkela for recurring financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0005206 for the Chend Housing Colony branch of Bank Of India has an important role.

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 BKID0005206 is given to every bank branch, including Bank Of India located in Chend Housing Colony, Rourkela, Odisha, 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 Rourkela.
• 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 Rourkela and Rourkela.
• 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 Odisha and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Chend Housing Colony doesn't end up at another location.

Format of the IFSC Code BKID0005206

The format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:

AAAA0CCCCCC

Here's the breakdown of this:

• First 4 characters (AAAA): Represent the bank code. For Bank Of India, these characters are the bank's short identifier.
• 5th character (0): Always zero which is reserved for future use.
• Last 6 characters (CCCCCC): Represent the specific branch code assigned to branches such as Chend Housing Colony in Rourkela.

For example, the IFSC Code BKID0005206 of Bank Of India for the Chend Housing Colony branch includes these elements, identifying the bank and the branch location in Rourkela and Odisha accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0005206 of Bank Of India for its Chend Housing Colony branch located in Rourkela, 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 Rourkela and Rourkela, 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 Chend Housing Colony or Rourkela to get the exact IFSC Code BKID0005206.

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 Rourkela, you'll get the correct details.

How to Use IFSC Code BKID0005206 for Online Transfers?

Once you have the IFSC Code BKID0005206 for the Chend Housing Colony branch of Bank Of India in Rourkela, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0005206. 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 BKID0005206.

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 Chend Housing Colony in Rourkela, 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 Chend Housing Colony, 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 Rourkela manage online transfers as well as cheque clearances with ease.