IFSC Code of Bank Of India, Madhavnagar, Sangli, Maharashtra- BKID0001508

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 Madhavnagar branch in Sangli, Sangli, 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 Sangli or anywhere in Maharashtra can easily transfer funds instantly by using the correct IFSC Code BKID0001508. 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, Madhavnagar, Sangli

Here are some of the key details that come with the IFSC Code BKID0001508 of Bank Of India for its branch located in Sangli, within the district of Sangli in the state of Maharashtra.

These details helps users in online banking and for businesses and individuals who use Bank Of India in Sangli for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0001508 for the Madhavnagar branch of Bank Of India plays a vital 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 Madhavnagar, Sangli, Maharashtra, are allotted a unique IFSC like BKID0001508 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It clearly tells which bank branch it is in Sangli.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It prevents confusion between different branches of the same bank in places like Sangli and Sangli.
• 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 Madhavnagar reaches the right place, even though there are thousands of branches in Maharashtra and across India.

Format of the IFSC Code BKID0001508

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 Madhavnagar in Sangli.

For example, the IFSC Code BKID0001508 of Bank Of India for the Madhavnagar branch includes these elements, identifying the bank and the branch location in Sangli and Maharashtra accurately.

How to Find IFSC Code for Bank Of India?

To find the IFSC Code BKID0001508 of Bank Of India for its Madhavnagar branch located in Sangli, 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 Sangli and Sangli, 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 Madhavnagar or Sangli to find the exact IFSC Code BKID0001508.

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 Sangli will provide accurate information.

How to Use IFSC Code BKID0001508 for Online Transfers?

Once you have the IFSC Code BKID0001508 for the Madhavnagar branch of Bank Of India in Sangli, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0001508. 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 BKID0001508.

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 Madhavnagar in Sangli, your payment can get delayed or might not go through at all.

Finding the MICR Code

MICR codes are used for cheque clearance and differ from IFSC codes. If you are looking for the MICR code of Bank Of India in Madhavnagar, here are some ways to obtain 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.

Having both the IFSC and MICR codes makes it easy for account holders in Sangli to handle online money transfers and get their cheques cleared smoothly.