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 Barghat branch in Seoni, Seoni, Madhya Pradesh, 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 Seoni or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG8064. Knowing how the IFSC Code works can help you stay informed and avoid transfer errors.
Details of IFSC Code for Bank Of India, Barghat, Seoni
The table below shows the main details of the IFSC Code BKID0MG8064 for the Bank Of India branch in Seoni, which falls under the Seoni district in Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG8064 |
| Branch | Barghat |
| City | Seoni |
| District | Seoni |
| State | Madhya Pradesh |
| Address | P.O.Barghat Tehbarghat, Distt. Seoni |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Seoni for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0MG8064 for the Barghat branch of Bank Of India is vital.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, which is an 11-character alphanumeric code provided by the Reserve Bank of India. Every bank branch, including Bank Of India located in Barghat, Seoni, Madhya Pradesh, is provided a unique IFSC like BKID0MG8064 so that their online payments reach the right place.
The IFSC Code is important because:
- It uniquely recognizes the Bank Of India branch in Seoni.
- Helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any confusions between multiple branches of the same bank across different places like Seoni and Seoni.
- It reduces most of the errors in fund transfers and makes sure its accuracy.
- It enables sender banks to validate and confirm branch details before processing payments.
For thousands of branches across Madhya Pradesh and the rest of India, the IFSC Code ensures that transactions meant for Bank Of India in Barghat do not get misguided to another person.
Format of the IFSC Code BKID0MG8064
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 Barghat in Seoni.
For example, the IFSC Code BKID0MG8064 of Bank Of India for the Barghat branch includes these elements, identifying the bank and the branch location in Seoni and Madhya Pradesh accurately.
How to Find IFSC Code for Bank Of India?
If you are trying to find the IFSC Code BKID0MG8064 of Bank Of India for its Barghat branch located in Seoni, 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 Seoni and Seoni, 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 Barghat or Seoni to get the exact IFSC Code BKID0MG8064.
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 Seoni that will provide accurate information.
How to Use IFSC Code BKID0MG8064 for Online Transfers?
Once you have the IFSC Code BKID0MG8064 for the Barghat branch of Bank Of India in Seoni, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0MG8064. 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 BKID0MG8064.
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 Barghat in Seoni, 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 Barghat, 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 Seoni to handle online money transfers and get their cheques cleared smoothly.
Frequently Asked Questions (FAQs)
The IFSC Code of the Barghat Seoni branch is BKID0MG8064.
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 P.O.Barghat Tehbarghat, Distt. Seoni.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.