Bank of India
PHAGWARA SME BRANCH
+911824260463
Understanding IFSC Code: The Digital DNA of Bank of India
When performing any digital transaction in India, the Indian Financial System Code
(IFSC) acts as a critical identifier. For the PHAGWARA SME
branch of Bank of India, the code BKID0006391 ensures
that your funds are routed through the Reserve Bank of India's (RBI) structured network without manual
errors. In an era of instant payments, having the correct IFSC is as important as the account number
itself.
Anatomy of the BKID0006391 Code
An IFSC is an 11-character alphanumeric code. Let's break down the logic behind the code for this specific branch:
Bank Identity
"BKID" represents Bank of India
Control Character
Always '0' (Reserved for future use)
Branch Locator
Unique code for PHAGWARA SME
Payment Systems Supported by BKID0006391
| System | Transfer Limit | Processing Time |
|---|---|---|
| NEFT | No Minimum (Up to ₹50 Lakhs+) | Half-hourly batches (24x7) |
| RTGS | Minimum ₹2 Lakhs | Real-time settlement |
| IMPS | Up to ₹5 Lakhs | Instant (Mobile/P2P) |
Why do you need the MICR Code?
While IFSC is for digital transfers, the Magnetic Ink Character Recognition
(MICR) code—144013208—is primarily
used for the processing and clearance of physical cheques. This 9-digit code helps in
identifying the bank and branch during the Cheque Truncation System (CTS) cycle, making clearing
faster and error-free.
Bank Holidays & Availability
The Bank of India in PHAGWARA typically follows the RBI holiday calendar. Digital transfers via BKID0006391 for NEFT/RTGS are now available 365 days a year, regardless of physical branch timings or Sunday closures.
Security Warning & Verification
Always verify the branch details before making a large payment. While BKID0006391 is the valid code for PHAGWARA SME at PHAGWARA, ensure the beneficiary name matches perfectly in your mobile banking app.
Bank Search Indexing & Metadata
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Branch Context
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Platform Links
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