What is a IFSC Code for bank of india, malwa mill?.

BKID0008860 IFS code is the MALWA MILL branch of BANK OF INDIA. This branch is located in INDORE district of MADHYA PRADESH Through this code, you can easily transfer funds online to the account holders of this branch. For fund transfer, you can use RTGS/NEFT/IMPS

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IFSC Code:- BKID0008860 / MICR Code:- 452013036
Address				:	PLOT NO.190, SCHEME NO.91, MALWA MILL,ANAJ MANDI, INDORE 452003
City / State				:	INDORE, MADHYA PRADESH
Tel.				:	0

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bank of india, malwa mill IFSC Code Format.

IFSC CODE
B	K	I	D	0	0	0	8	8	6	0
BANK OF INDIA Code				Rev.	MALWA MILL Branch code

The IFSC code is BKID0008860.

1^st Four alphabetic characters show the name of bank of india, malwa mill.

5^th character is Zero (reserved for any further use)

And the last six characters reflect the Code of MALWA MILL branch.

What is IFsc Code? Why IFSC code is important to Online Transactions?

BKID0008860 IFSC (Indian Financial System Code) is a unique code. This 11-digit alphanumeric code has been provided by the RBI to MALWA MILL of BANK OF INDIA. This branch recognizes participation in the electronic funds settlement system due to the IFSC code. Just a bank's IFSC code sends and receives online payments very easily. The IFSC code is required for many banking transactions such as NEFT and RTGS. You know that BANK OF INDIA can have maximum branches in all states of India. Therefore each bank branch has a unique IFSC code.

The code is imperative when you are transferring money from one banking institution to another one using an online method as it is helpful in the identification of the banks involved (its branches to be specific). So, you can save yourself rom costly and time-consuming mistakes.

When transferring funds using transactions that involve inter-bank money transfer like IMPS, NEFT, and RTGS these codes play the most important role. These codes are specific to individual bank branches. For instance, if you are transferring money from your bank account located in your home town to some other branch of the same bank online, you are going to need IFSC code. And, the code will be different for each branch.

You can get access to the Bank IFSC code easily by going to the bank’s website or you can simply key in the details at our website in the space provided. And, without any hassle get access to the IFSC code for a particular branch that you have been looking for!

We have the most comprehensive database that includes all the major banks and their branches spread across the entire nation.

So if you are looking for IFSC code to perform online financial transactions like fund transfer, then all you have to do is to key in the details and get IFSC code with ease. And, once you have that you can go ahead and perform the monetary transaction with ease!

Benifit of the IFSC Code

• With the assistance of IFSC code, on-line transactions are accomplished inside a couple of minutes, saving considerable time.
• ifsc code promotes paperless (eco-friendly) banking.
• Due to ifsc code, online transactions happen in few minutes
• IFSC Codes have made on-line banking protected and safe.
• It is very helpful in keeping track of all banking transactions to RBI
• Ifsc code is unique, it helps to avoid mistakes, theft, fraud during online transfer of funds.

What are Bank MICR Codes in India?

You must have heard about IFSC codes for the transaction of money from one bank account to another bank account. It was made mandatory to be the Indian Government to have an IFSC code for the transaction of online money. This has also removed many bottlenecks in the bank and thus they followed it with high enthusiasm.

MICR means 'Magnetic Ink Character Recognition'. MICR code was introduced to print this code on cheques for reading it magnetically. So, this as it name says it is a character-recognition technology like OCR that makes the faster processing of cheques in the banks.

Reserve of India is the body which distributes the MICR codes to each and every bank. If you look at your cheque then you can find the few bars that are basically printed for character recognition. These ink bars represent MUCR codes of the respective branch where you have your account.

Now, I will tell you about the configuration of the MICR code. See the example below-

MICR Code – XXXYYYZZZ

What is the significance of each digit?

Initial XXX represents city code (Ex. Mumbai)

Middle YYY Represent Bank Code (Ex. ICICI Bank)

THE last ZZZ represent the branch code of the bank (Ex, MG Road Branch)

For example-

MICR Code of SBI, Jaihind Estate No.2-b, Dr.atmaram Merchant Rd. Bhuleshwar, Mumbai is 400005003

Both MICR code and IFSC codes are formed to make things simple and easy for the public/customer. Practically, people feel that it is quite easy to have this type of system in place. Now, bank account holders need not go to the bank for several years while they can take the banking services from their home. Anybody wants to transfer funds from one of their customer or employee then they have sat on a computer /tablet /mobile only to complete it. Life has become quite easy as far as banking is concerned

Information Required for transfer of Funds

• It is necessary to have an online fund transfer facility in your account.
• you should know the Name of the beneficiary bank.
• you should know the Account Number of the beneficiary.
• you must know the IFSC code of the beneficiary.

How can I transfer money from one bank to another?

in a convenient and secure manner, You can send money to the Payee transfer money within your bank accounts. Check out these easy steps for online fund transfers anywhere, anytime.

• National Electronic Funds Transfer (NEFT)
• Real Time Gross Settlement (RTGS)
• Immediate Payment Service (IMPS)
• Unified Payment Interface (UPI)
• National Unified USSD Platform (NUUP)
• Bharat Interface for Money (BHIM)

BKID0008860 contains an 11-digit alpha-numeric code. This code helps to find the details of MALWA MILL branch in India. RBI can easily identify MALWA MILL branch of BANK OF INDIA in India because of IFSC code.