The country's central bank (RBI) has specified three ways in which we can remit money. These include the popular NEFT, RTGS and IMPS. However, to undertake these transactions, we must have the IFSC Code allotted by RBI to each bank and the specified branch.
The Bank of India IFSC Code is an 11-digit alphanumeric code having special 4 characters, 'BKID', stand for the name of the bank, the fifth character is always 'zero' for future use and the final six characters specify the 'exact branch address'.
If you are searching for the IFSC code of your home branch, you can use two mechanisms to search. In the offline mode you will find it written on your cheque book, which has been given to you by the Bank of India branch. If you are looking for online IFSC Code of Bank of India you can find here in Goodreturns.
Bank of India traces its history to the early part of the 19th century, when a few prominent businessmen, came together to start the bank.
It is a Mumbai based bank, which has grown across the length and breadth of the country, since modest beginnings in 1906.
Bank of India has a huge branch network that comprises almost 5000 branches, which makes it among the top banks in the country, in terms of branches.
It surpasses, even the top private sector banks in the country, in terms of number of branches.
Bank if India was the first nationalised bank to establish a fully computerised branch and ATM facility at the Mahalaxmi Branch at Mumbai way back in 1989. This was when computer use was hardly in vogue.
Melwyn Rego is now the Managing Director and CEO of Bank of India. Prior to this he was holding the position of Deputy Managing Director, IDBI Bank Ltd since August 30, 2013. He is a career banker and has been with IDBI Bank Ltd since 1984. Melwyn Rego, 56 years, is an MBA rank holder in finance from Symbiosis Institute of Business Management, Pune.
We have provided herewith IFSC codes of the various branches of Bank of India. Since the bank has a very huge network for remittance of money into Bank of India branches, you must have the BOI IFSC Codes.