IFSC or Indian Financial System Code has become an integral part of modern day banking transactions. Every bank branch has been designated a specific IFSC coReserve Bank of India (RBI). As per the RBI guidelines each bank branch needs to list their IFSC codes on a board inside the bank premises. IFSC codes can also be found online at the respective bank's official website or by using IFSC code finder tool by websites such as Bankbazaar.com.
Most private banks such as ICICI Bank and HDFC Bank along with popular public sector banks like SBI have made extra effort to make sure their bank customers are aware of the respective IFSC codes for their bank branch. Clients of other public sector banks like Bank of India may however find it difficult to locate the IFSC code of their respective bank branch unless the schedule a personal visit to the bank branch. A wide number of bank branches in semi urban and rural areas also make it difficult for users to physically travel to their bank branch only to find out their IFSC codes.
An Overview of IFSC Codes:
Indian Financial System Code or IFSC is a special 11 character code assigned by the RI to distinguish between each bank branch.
Let us consider the IFSC code for Bank of India located in S.V Road in Andheri West in Mumbai. The IFSC code for the bank is BKID0000002. First 4 characters are BKID representing the name of the bank i.e. Bank of India. The last six characters are 000002 which correspond to the S.V Road Andheri West branch of Bank of India in Mumbai. The fifth character from the front is o and reserved for future use.
Searching Bank of India IFSC Codes:
If you are searching for Bank of India IFSC code, Bankbazaar.com is your one stop shop covering Bank of India branches across the length and breadth of the country. Users simply need to select the state; city and the concerned branch in the IFSC code finder tool and the results are displayed listing complete postal address as well as IFSC code for the concerned bank branch. The official website of Bank of India and the Reserve Bank of India can also be used to find the corresponding IFSC code for any Bank of India branch.
de that helps in identification of the particular bank branch allowing swift online financial transactions like NEFT and RTGS settlements. Each bank including private banks, public service banks as well as small cooperative banks have been given a designated IFSC code by the
Most private banks such as ICICI Bank and HDFC Bank along with popular public sector banks like SBI have made extra effort to make sure their bank customers are aware of the respective IFSC codes for their bank branch. Clients of other public sector banks like Bank of India may however find it difficult to locate the IFSC code of their respective bank branch unless the schedule a personal visit to the bank branch. A wide number of bank branches in semi urban and rural areas also make it difficult for users to physically travel to their bank branch only to find out their IFSC codes.
An Overview of IFSC Codes:
Indian Financial System Code or IFSC is a special 11 character code assigned by the RI to distinguish between each bank branch.
- The first four characters are always alphabetic related to the bank name while the last six characters represent the particular branch.
- The last six characters can be either numeric or alphabetic depending on the bank. The fifth character from the front is reserved for future use and is always assigned the value '0'.
Let us consider the IFSC code for Bank of India located in S.V Road in Andheri West in Mumbai. The IFSC code for the bank is BKID0000002. First 4 characters are BKID representing the name of the bank i.e. Bank of India. The last six characters are 000002 which correspond to the S.V Road Andheri West branch of Bank of India in Mumbai. The fifth character from the front is o and reserved for future use.
Searching Bank of India IFSC Codes:
If you are searching for Bank of India IFSC code, Bankbazaar.com is your one stop shop covering Bank of India branches across the length and breadth of the country. Users simply need to select the state; city and the concerned branch in the IFSC code finder tool and the results are displayed listing complete postal address as well as IFSC code for the concerned bank branch. The official website of Bank of India and the Reserve Bank of India can also be used to find the corresponding IFSC code for any Bank of India branch.