IFSC Code of Bank Of India, Asset Recovery Branch, Navi Mumbai, Maharashtra — BKID0000201

The IFSC Code is a very important number used in India for digital banking and online money transfers that ensures seamless and accurate fund transfers. In case you are sending money through NEFT, RTGS, or IMPS, the bank requires you to enter the correct IFSC Code to route your payment to the right branch. If you are searching for the IFSC Code of Bank Of India for its Asset Recovery Branch branch in Thane, Navi Mumbai, Maharashtra, this complete guide will provide you with detailed information.

The banking system in India has changed over the years, and today customers of Bank Of India located in Thane or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0000201. Knowing how the IFSC Code works will help you stay informed and avoid transfer issues.

Details of IFSC Code for Bank Of India, Asset Recovery Branch, Thane

Below in the table are the key details related to IFSC Code BKID0000201 of Bank Of India for its branch located in Thane, within the district of Navi Mumbai in the state of Maharashtra.

These details are essential not only for online banking users but also for businesses and individuals who use Bank Of India in Thane for day-to-day financial transactions. If you are depositing money, sending payments, or conducting commercial transfers, the IFSC Code BKID0000201 for the Asset Recovery Branch branch of Bank Of India plays an important 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, including Bank Of India located in Asset Recovery Branch, Thane, Maharashtra, is provided with a unique IFSC like BKID0000201 to ensure that online payments reach the right destination.

The IFSC Code is important because:

• It uniquely identifies the Bank Of India branch in Thane.
• It helps NEFT, RTGS, and IMPS systems route the transfer securely.
• It avoids any errors or confusions between multiple branches of the same bank across different places like Thane and Navi Mumbai.
• It reduces errors in fund transfers and improves accuracy.
• It allows sender banks to validate and confirm branch details before processing payments.

There are thousands of branches across Maharashtra and the rest of India and the IFSC Code ensures that transactions meant for Bank Of India in Asset Recovery Branch do not get mixed with another location.

Format of the IFSC Code BKID0000201

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 Asset Recovery Branch in Thane.

For example, the IFSC Code BKID0000201 of Bank Of India for the Asset Recovery Branch branch includes these elements, identifying the bank and the branch location in Thane and Maharashtra accurately.

How to Find IFSC Code for Bank Of India?

If you are trying to find the IFSC Code BKID0000201 of Bank Of India for its Asset Recovery Branch branch located in Thane, the following methods can help:

Cheque Book

The cheque book issued by Bank Of India includes the IFSC Code printed on each cheque leaf which you can easily spot on the top section.

Passbook

Most banks, including Bank Of India branches in Thane and Navi Mumbai, print the IFSC and MICR codes on the first page of your passbook.

Bank Website

Visit the official website of Bank Of India and navigate to the branch locator section. Search for Asset Recovery Branch or Thane to get the exact IFSC Code BKID0000201.

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 keeps an updated list of all IFSC codes. If you search for Bank Of India and Thane, you'll get the correct details.

How to Use IFSC Code BKID0000201 for Online Transfers?

Once you have the IFSC Code BKID0000201 for the Asset Recovery Branch branch of Bank Of India in Thane, you can initiate your fund transfers using any digital method:

NEFT

Add beneficiary details including the name, account number, and IFSC Code BKID0000201. Transfers are processed in batches. This is suitable for 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 BKID0000201.

Regardless of the method you choose, the accuracy of the IFSC Code is crucial. Any mistake in entering the IFSC Code for Bank Of India Asset Recovery Branch in Thane may result in delayed or failed transactions.

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 Asset Recovery Branch, 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 Thane manage online transfers as well as cheque clearances with ease.