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 Textile Market branch in Surat, Surat, Gujarat, 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 Surat or anywhere in Gujarat can transfer funds instantly by using the correct IFSC Code BKID0002703. 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, Textile Market, Surat
Here are the key points that are associated with the IFSC Code BKID0002703 of Bank Of India for its branch located in Surat, within the district of Surat in the state of Gujarat.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0002703 |
| Branch | Textile Market |
| City | Surat |
| District | Surat |
| State | Gujarat |
| Address | Surat Textile Market Buildingbank Block 2Nd Floor Ring Road |
These details helps users in online banking and for businesses and individuals who use Bank Of India in Surat for their financial transactions. In case you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0002703 for the Textile Market 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 Textile Market, Surat, Gujarat, are allotted a unique IFSC like BKID0002703 to ensure that online payments reach the right destination.
The IFSC Code is important because:
- It clearly tells which bank branch it is in Surat.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It prevents confusion between different branches of the same bank in places like Surat and Surat.
- 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 Textile Market reaches the right place, even though there are thousands of branches in Gujarat and across India.
Format of the IFSC Code BKID0002703
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): These represent the bank code. In Bank Of India, they are a short identifier for the bank.
- 5th character (0): This is always zero and is reserved for future use.
- Last 6 characters (CCCCCC): These are what represent the specific branch code which is assigned to branches like Textile Market in Surat.
For example, the IFSC Code BKID0002703 of Bank Of India for the Textile Market branch has these elements, identifying the bank and the branch location in Surat and Gujarat correctly.
How to Find IFSC Code for Bank Of India?
To find the IFSC Code BKID0002703 of Bank Of India for its Textile Market branch located in Surat, 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 Surat and Surat, 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 Textile Market or Surat to find the exact IFSC Code BKID0002703.
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 Surat will provide accurate information.
How to Use IFSC Code BKID0002703 for Online Transfers?
Once you have the IFSC Code BKID0002703 for the Textile Market branch of Bank Of India in Surat, you can initiate your fund transfers using any digital method:
NEFT
Add the beneficiary's name, account number, and IFSC Code BKID0002703. 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 BKID0002703.
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 Textile Market in Surat, 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 Textile Market, 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 Surat manage their online transfers and cheque clearances easily.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0002703.
Yes, but it can change if the bank merges or goes through restructuring.
No. MICR is for cheque clearing; IFSC is for online transfers.
You can find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Surat Textile Market Buildingbank Block 2Nd Floor Ring Road located in Surat, Surat, Gujarat.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.