IFSC Code, MICR Codes for BANK OF INDIA in MAHARASHTRA - MUMBAI - MUMBAI - ELECTRIC HOUSE

BANK OF INDIA RTGS HO Branch in MUMBAI - Address, IFSC, MICR Code


IFSC Code

BKID0000016

MICR Code

400013020

Branch

ELECTRIC HOUSE

Contact

2841637

Address

ELECTRIC HOUSEORMINSTON ROAD

City

MUMBAI

District

MUMBAI

State

MAHARASHTRA





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

BKID0000016

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.