IFSC Code of Bank of India, Panaji Retail Hub Branch, Goa

This page lists the IFSC code, branch address, contact number and fund-transfer information for Bank of India, PANAJI RETAIL HUB branch in PANAJI. The 11-digit IFSC BKID0001032 uniquely identifies this branch in the RBI's centralised payments network and is required for every NEFT, RTGS or IMPS transaction routed to this branch. If you are paying somebody who banks with Bank of India at the PANAJI RETAIL HUB location, this is the only IFSC you need.

We have organised this page into clearly labelled sections so you can jump straight to the part that interests you — the IFSC and MICR details, the full postal address, the contact phone number, a quick primer on NEFT, RTGS and IMPS, the typical product line-up at the branch, and a frequently asked questions section that addresses the queries people raise most often about this branch.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For Bank of India's PANAJI RETAIL HUB branch, the IFSC BKID0001032 breaks down as follows: BKID identifies the bank, 0 is the reserved character, and 001032 identifies this particular branch.

Branch details at a glance

Bank profile

Bank of India is among the recognised banks listed on the Reserve Bank of India's payments network. The Panaji Retail Hub branch — IFSC BKID0001032 — extends the bank's services to customers in and around Panaji, Goa.

About the Panaji Retail Hub branch

The Panaji Retail Hub branch of Bank of India is situated at RUA DE ORMUZ PB NO 167DIST NORTH GOAPANAJI. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code BKID0001032 is used.

The role of IFSC in India's payments network

India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Bank of India's PANAJI RETAIL HUB branch came to be assigned the code BKID0001032.

Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC BKID0001032, money simply cannot be routed to the PANAJI RETAIL HUB branch electronically.

How to transfer money using IFSC BKID0001032

Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC BKID0001032 across all three.

How to use IFSC BKID0001032 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Bank of India's PANAJI RETAIL HUB branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC BKID0001032.
4. Confirm the bank name auto-populates as Bank of India and the branch as PANAJI RETAIL HUB.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC BKID0001032

RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to Bank of India – PANAJI RETAIL HUB, ensure your bank's portal accepts IFSC BKID0001032 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of India PANAJI RETAIL HUB (IFSC BKID0001032)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC BKID0001032 in your mobile or internet banking app, and the money is credited to the PANAJI RETAIL HUB branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Panaji Retail Hub

The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC BKID0001032:

• NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
• RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
• IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
• UPI — best for small peer-to-peer payments using a VPA; the underlying account at PANAJI RETAIL HUB is still linked to IFSC BKID0001032.

For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.

How UPI relates to the IFSC code

UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at Bank of India's PANAJI RETAIL HUB branch, the IFSC BKID0001032 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.

That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.

Account types you can open at the Panaji Retail Hub branch

Once you have an account at Bank of India – PANAJI RETAIL HUB, the IFSC BKID0001032 stays the same regardless of the type of account you hold. The branch typically supports the following options:

• Savings account — for individuals, with chequebook, ATM card and net-banking access.
• Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
• Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
• NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
• Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
• Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
• Minor and student accounts — operated jointly with a guardian until the customer turns 18.

Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.

Products and services

Customers walking into the Panaji Retail Hub branch can access most of Bank of India's standard product suite, including:

• Account opening – savings, current, NRI, salary
• Term deposits and recurring deposits
• Retail and small-business loans
• Insurance and mutual-fund tie-ups
• Locker, safe deposit and ATM card services
• Online and mobile banking activation
• Electronic transfers via IFSC BKID0001032

MICR & cheque-truncation details

Cheques drawn on the Panaji Retail Hub branch are processed through the Cheque Truncation System (CTS). Each cheque carries a unique 9-digit MICR code that pairs with IFSC BKID0001032 for clearing. If you receive a cheque from this branch, both codes will be visible on the cheque leaf.

Digital banking channels

Most day-to-day work that customers used to do at the Panaji Retail Hub branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC BKID0001032 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.

Things to verify before sending money

Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to Bank of India – PANAJI RETAIL HUB:

• The IFSC is exactly BKID0001032 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Bank of India as the bank name and PANAJI RETAIL HUB as the branch.
• The amount and the purpose of payment are correct.
• You have a valid OTP-verifying mobile number on hand.

A 30-second review here saves hours of reconciliation later.

How to reach the Panaji Retail Hub branch

The branch is located at RUA DE ORMUZ PB NO 167DIST NORTH GOAPANAJI, which puts it inside Panaji, the broader Panaji district, and the state of Goa. To plan your visit:

1. Open Google Maps on your phone and search for “Bank of India Panaji Retail Hub branch” — the verified location pin for IFSC BKID0001032 should appear at the top of the results.
2. Confirm the branch is open by calling 832-8322421975 before stepping out, especially around public holidays.
3. Carry photo ID and any account-related documents you may need for the transaction you plan to do.

Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC BKID0001032 and your account number.

Other ways to verify the IFSC code

While this page already lists the verified IFSC BKID0001032 for Bank of India – PANAJI RETAIL HUB, you can cross-check the code from any of these sources before initiating a high-value transfer:

• The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
• The first page of your passbook.
• The bank's official website under the branch locator.
• The Reserve Bank of India's IFSC search portal.
• Net banking dashboards usually display the home-branch IFSC under account details.

Working hours

Branch counters at Panaji Retail Hub are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to BKID0001032 continue to work without interruption.

Branch address & contact

Frequently asked questions

Final notes

To recap: BKID0001032 is the IFSC code of Bank of India, PANAJI RETAIL HUB branch, in PANAJI, GOA. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.