What is the IFSC code of Bank of India (2020)?

 What is the IFSC code of Bank of India (2020)?

Friends, whenever we transfer funds through services like neft rtgs and imps and the recently launched UPI. Then in all these services we need the account number as well as the IFSC code.

What is the IFSC code of Bank of India

An IFSC Code is a short address for your bank branch.

An 11 character code is used to identify any bank and its branch. The full name is Indian Financial System Code .

By this code, the Reserve Bank of India (RBI) and our banking system identify the Source and Destination branches.

The IFSC code thus facilitates interbank electronic / online transfer.

Reserve Bank of India (RBI), the central banking authority that regulates all affiliated banks and banking affairs across India. 

The Reserve Bank of India (RBI) provides IFSC codes to all member banks. 

The Reserve Bank of India (RBI) lists the Record of all member banks.

What is the difference between IFSC Code and 

SWIFT Code?

This Code System is designed for domestic use only in India.

Each bank has an code. Whether this bank is a public sector, private sector or foreign bank.

On the other hand when we need international transaction. So we have to use SWIFT code.

SWIFT code is not available for all banks.

 This is only for active partner branches which are connected to SWIFT Network. 

Generally, some branches of major cities have this code.

What is the information in IFSC Code?

Friends, which is the IFSC code, 11 digits or 9-digit code are used in it. Alpha and numeric code is used in its 11 digits. In which special type of information of the bank is hidden.

Two types of information are contained in the IFSC code:

The first 4 characters are alphabetic. Which contains the name of the bank.

The fifth character is always 0 (zero). This is a control number that is the same.

The last 6 character digits of the IFSC code are. Sometimes -2 these 7 characters can also be in the form of letters.

The last 6 digits indicate the particular bank branch. Which is different and unique for each branch of a bank.

For example: Here I will give you as an example Rakabganj Kadim distt Lucknow of PNB Bank, whose IFSC Code is PUNB0241000.

Here, if you notice, 4 character PUNB would indicate the name of the bank Punjab National Bank (PNB). The fifth character, which is always zero. 

Its last 6 digits are a unique number for the Punjab National Bank (PNB) Rakabganj Kadim distt Lucknow branch.

What is the importance of IFSC Code?

Whenever we transfer funds to a bank. So we need the code.
As a customer of any bank, you should know the IFSC Code of your bank.

To receive or send payment from an account holder, you need to tell them your IFSC Code and Account Number.

Friends, when we add a beneficiary to a service like NEFT for fund transfer, we need the beneficiary's account number as well as IFSC code.

The Reserve Bank of India (RBI) identifies, monitors and certifies transactions and fund exchanges through the IFSC Code. 

This is the reason why the Reserve Bank of India (RBI) has made it mandatory to publish IFSC Code on every check leaf.

How to find IFSC Code of a bank?

You can find out the IFSC code in any of the following ways -

•  The easiest way to get the IFSC code is to look at the first page of your Bank Passbook, where your account and your personal details are given. You will find the IFSC code of that branch.

•  If you have a checkbook. So on the top left hand side in the cheque leaf, you will find the IFSC Code of that branch.

•  The easiest way to find the IFSC Code of banks in India is by visiting the following website and applying filters according to state, district and city.

To find the IFSC code, you have four methods like,

• Bank Passbook:

In IFC code bank passbook, you can easily representing the bank find out when you open the bank passbook, on the first page you have to write your name address account number MICR code IFSC code which you can easily see and use

• Check Book:

You can find the IFC code in the check book very easily, the check book contains your check book number and there are columns to fill the money.

At the bottom is your bank's IFSC code, which is now revealed in the bank passbook. That or which branch of the check book.

• Online Services:

During online service, you can search the IFC code easily with the help of net banking and if you use Google, you still get the IFC code easily, for this, by going to Google, you will take your bank data, then you will IFC Code will be received immediately transfer between banks .

• Customer Service:

If you take the help of customer care, for that you will have to call the customer care number of your bank. 

After calling, you can ask the IFSC code which you will get the code very easily, now you can use it comfortably.

How to find ifsc code in Net Banking

If you use Net Banking, then for that you have Paytm, Bhim UPI and payment services on your phone on Google in your mobile, if you have the applications, then you can easily get the IFSC code of any bank branch for this very easily for online fund transfers it is hassle free.

You have to enter the account number of the person, after that you have to click on the search IFSC Quote in which bank account you have to enter it, which branch account it is or Is also put then IFSC code to find yourself looking now after you copy can copy it, you can easily transfer money.

How to know IFSC Code from WEBSITE

• First of all open any browser in your mobile (Chrome, Operamini, UC)

• And open this website http://banksifsccode.com or else you click on this link.

• Select the name of the Pay Bank there like State Bank of India

• Then select state

• Select distirct

• Now finally enter the Branch Name and click on submit

• You will get your IFSC Code and along with it you will get all the other details of the branch.

What is the difference between IFSC code and MICR code

• MICR Code

The MICR code uses a magnetic link character recognition. Which are in the form of a white line under the check. Which are called MICR bands. 

This code is also used for international transactions. Which greatly increases the security of the transaction.

MICR code is very convenient and secure. 

MICR code number consists of 9. Which represent the first 3 digits city, next 3 digits bank and last three digits bank branch respectively.

MICR code magnetic ink character recognition is used. Due to which any type of fraud cases can be immediately scanned and identified.

• IFSC Code

IFSC code is a finance system code of India. Which is used in all banks and branches dealing with NEFT.

This code is also used in online payment and application payment systems. The IFSC code is mainly used in RTGS NEFTn and CFMS.

If you want to do some kind of online fund transfer. So you will mainly need the IFSC code.