IFSC Code, MICR Codes for BANK OF INDIA in MAHARASHTRA - MALGAON (DIST SANGLI) - MALGAON (DIST SANGLI) - MALGAON

BANK OF INDIA RTGS HO Branch in MALGAON (DIST SANGLI) - Address, IFSC, MICR Code


IFSC Code

BKID0001601

MICR Code

416013540

Branch

MALGAON

Contact

2332266631

Address

MALGAONDISTRICT SANGLI

City

MALGAON (DIST SANGLI)

District

MALGAON (DIST SANGLI)

State

MAHARASHTRA





What is IFSC Code of BANK OF INDIA situated at MALGAON- RTGS-HO?
IFSC Code of BANK OF INDIA situated at MALGAON - RTGS-HO is

BKID0001601

What is the meaning of IFSC Code, MICR Codes in Banking industry?
IFSC or Indian Financial System Code is the code allocated to all banks branches. Bank branches use this code to participate in RTGS and NEFT transactions.

What is the significance of IFSC Code and how we can use it?
IFSC Code is a 11 digit code and we can use this code to communicate between different branches of different banks. Upon receiving the request for fund transfer it is easy for a bank to identify the payee branch. First four characters are code of bank, last six digits are branch code and fifth character is left 0, for any future use.