IFSC Code of Bank Of India, Rajendranagar, Shahdol, Madhya Pradesh- BKID0MG1516

Digital banking and online financial transactions in India uses one essential element that ensures you have a seamless and accurate fund transfers, it is the IFSC Code. No matter, if you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code so that your payment goes to the right branch. And if you are searching for the IFSC Code of Bank Of India for its Rajendranagar branch in Shahdol, Shahdol, Madhya Pradesh, then this guide will give you detailed information.

The banking system has evolved significantly in India, and today the customers of Bank Of India located in Shahdol or anywhere in Madhya Pradesh can transfer funds instantly by using the correct IFSC Code BKID0MG1516. You should definitely 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, Rajendranagar, Shahdol

Here are the key points that are associated with the IFSC Code BKID0MG1516 of Bank Of India for its branch located in Shahdol, within the district of Shahdol in the state of Madhya Pradesh.

These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Shahdol for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0MG1516 for the Rajendranagar 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 Rajendranagar, Shahdol, Madhya Pradesh, is provided a unique IFSC like BKID0MG1516 so that their online payments reach the right place.

The IFSC Code is important because:

• It uniquely recognizes the Bank Of India branch in Shahdol.
• 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 Shahdol and Shahdol.
• 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 Rajendranagar do not get misguided to another person.

Format of the IFSC Code BKID0MG1516

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 Rajendranagar in Shahdol.

For example, the IFSC Code BKID0MG1516 of Bank Of India for the Rajendranagar branch includes these elements, identifying the bank and the branch location in Shahdol and Madhya Pradesh accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0MG1516 of Bank Of India for its Rajendranagar branch located in Shahdol, 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 Shahdol and Shahdol, 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 Rajendranagar or Shahdol to get the exact IFSC Code BKID0MG1516.

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 Shahdol that will provide accurate information.

How to Use IFSC Code BKID0MG1516 for Online Transfers?

Once you have the IFSC Code BKID0MG1516 for the Rajendranagar branch of Bank Of India in Shahdol, you can initiate your fund transfers using any digital method:

NEFT

Add the beneficiary's name, account number, and IFSC Code BKID0MG1516. 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 BKID0MG1516.

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 Rajendranagar in Shahdol, your payment can get delayed or might not go through at all.

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 Rajendranagar, 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 Shahdol manage their online transfers and cheque clearances easily.