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. Banks need the correct IFSC Code for NEFT, RTGS, or IMPS transfers to reach the right branch. If you are looking for the IFSC Code of Bank Of India for its Sawar branch in Yavatmal, Sawar, or Maharashtra, this guide will help you with all the details.
There have been major changes in the banking sector in India and today, the customers of Bank Of India located in Yavatmal or anywhere in Maharashtra can transfer funds instantly by using the correct IFSC Code BKID0VG7019. 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, Sawar, Yavatmal
The table below shows the main details of the IFSC Code BKID0VG7019 for the Bank Of India branch in Yavatmal, which falls under the Sawar district in Maharashtra.
| Particulars | Details |
|---|---|
| Bank | Bank Of India |
| IFSC Code | BKID0VG7019 |
| Branch | Sawar |
| City | Yavatmal |
| District | Sawar |
| State | Maharashtra |
| Address | Ap Sawar Tal Babhulgaon Dist Yavatmal Pin 445001 |
These details are important not only for users using online banking but also for businesses and individuals who use Bank Of India in Yavatmal for everyday financial transactions. If you are depositing money, sending payments, or managing any commercial transfers, the IFSC Code BKID0VG7019 for the Sawar branch of Bank Of India is vital.
What Is IFSC Code and Why Is It Important?
IFSC stands for Indian Financial System Code, an 11-character alphanumeric code that is provided by the Reserve Bank of India. A unique IFSC like BKID0VG7019 is given to every bank branch, including Bank Of India located in Sawar, Yavatmal, Maharashtra, to make sure that online payments reach the right place.
The IFSC Code is important because:
- It uniquely identifies the Bank Of India branch in Yavatmal.
- It helps NEFT, RTGS, and IMPS systems route the transfer securely.
- It avoids any kind of confusion between multiple branches of the same bank across different places like Yavatmal and Sawar.
- It removes errors in fund transfers and improves accuracy.
- It lets the sender banks validate and confirm branch details before they process the payments.
There are thousands of branches across Maharashtra and the rest of India, which is why the IFSC Code ensures that transactions meant for Bank Of India in Sawar doesn't end up at another location.
Format of the IFSC Code BKID0VG7019
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 Sawar in Yavatmal.
For example, the IFSC Code BKID0VG7019 of Bank Of India for the Sawar branch has these elements, identifying the bank and the branch location in Yavatmal and Maharashtra correctly.
How to Find IFSC Code for Bank Of India?
If you are looking for the IFSC Code BKID0VG7019 of Bank Of India for its Sawar branch located in Yavatmal, 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 Yavatmal and Sawar, 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 Sawar or Yavatmal to get the exact IFSC Code BKID0VG7019.
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 Yavatmal, then it will provide you proper information.
How to Use IFSC Code BKID0VG7019 for Online Transfers?
Once you have the IFSC Code BKID0VG7019 for the Sawar branch of Bank Of India in Yavatmal, you can initiate your fund transfers using any digital method:
NEFT
Add beneficiary details including the name, account number, and IFSC Code BKID0VG7019. 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 BKID0VG7019.
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 Sawar in Yavatmal may result in delayed or failed transactions.
Finding the MICR Code
MICR codes are used for check clearances and are not the same as IFSC codes. If you are searching for the MICR code of Bank Of India in Sawar, you can find it by any of the following ways:
- Check the bottom of your cheque leaf.
- Go to the first page of your passbook.
- Visit the official Bank Of India website.
- Search the RBI portal.
Having both IFSC and MICR codes helps account holders in Yavatmal manage online transfers as well as cheque clearances with ease.
Frequently Asked Questions (FAQs)
The IFSC Code is BKID0VG7019.
Yes, but there can be changes during mergers or restructuring.
No, MICR is for cheque clearing and the IFSC is for online transfers.
You can easily find it on cheque books, passbooks, the bank's website, mobile app, or the RBI portal.
The address of the branch is Ap Sawar Tal Babhulgaon Dist Yavatmal Pin 445001 located in Yavatmal, Sawar, Maharashtra.
The IFSC Code ensures that NEFT, RTGS, and IMPS transactions are accurately routed to the correct bank branch.