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 Ghansaur branch in Seoni, Seoni, Madhya Pradesh, 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 Seoni or anywhere in Madhya Pradesh can easily transfer funds instantly by using the correct IFSC Code BKID0MG8047. 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, Ghansaur, Seoni
Below in the table are the key details related to IFSC Code BKID0MG8047 of Bank Of India for its branch located in Seoni, within the district of Seoni in the state of Madhya Pradesh.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0MG8047 |
| Branch | Ghansaur |
| City | Seoni |
| District | Seoni |
| State | Madhya Pradesh |
| Address | P.O.Ghansour Tehghansor |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Seoni for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0MG8047 for the Ghansaur 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 Ghansaur, Seoni, Madhya Pradesh, are given a unique IFSC like BKID0MG8047 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Seoni.
- 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 Seoni and Seoni.
- 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 Ghansaur goes to the correct branch. This is important because Bank Of India has thousands of branches in Madhya Pradesh and all over India, and the IFSC Code prevents payments from going to the wrong place.
Format of the IFSC Code BKID0MG8047
This is the format of the IFSC Code for banks, including Bank Of India, follows an 11-character structure:
AAAA0CCCCCC
Here's the explanation:
- First 4 characters (AAAA): This is the bank code. For Bank Of India, these characters are the bank's short identifier.
- 5th character (0): This stays zero till there is any future use.
- Last 6 characters (CCCCCC): These are specific branch code assigned to branches such as Ghansaur in Seoni.
For example, the IFSC Code BKID0MG8047 of Bank Of India for the Ghansaur 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 looking for the IFSC Code BKID0MG8047 of Bank Of India for its Ghansaur branch located in Seoni, the following methods can help:
Cheque Book
The cheque book that is issued by Bank Of India includes the IFSC Code printed on each cheque leaf. You can easily spot the code at the top section.
Passbook
Most of the 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
You can visit the official website of Bank Of India and look for the branch locator section, then search for Ghansaur or Seoni to get the exact IFSC Code BKID0MG8047.
Mobile Banking App
If you use Bank Of India's mobile app, you can check your account details to easily find your branch's IFSC code.
RBI Website
The Reserve Bank of India has an updated database of all IFSC codes and if you are searching for Bank Of India and Seoni, then it will provide you proper information.
How to Use IFSC Code BKID0MG8047 for Online Transfers?
Once you have the IFSC Code BKID0MG8047 for the Ghansaur 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 BKID0MG8047. 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 BKID0MG8047.
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 Ghansaur 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 Ghansaur, here are some ways that 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.
If you know both IFSC and MICR codes, then it can help account holders in Seoni manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code of the Ghansaur Seoni branch is BKID0MG8047.
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.Ghansour Tehghansor.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.