Bank of India SWIFT Code: BKIDINBB

Bank of India SWIFT Code: BKIDINBB

The SWIFT/BIC code for Bank of India is BKIDINBB. BKID identifies Bank of India, IN stands for India, and BB is the Mumbai location code. This code handles international wire transfers to Bank of India accounts.

Bank of India is a state-owned commercial bank founded in 1906, nationalized in 1969. It operates over 5,100 branches across India and has international offices in 22 countries. The bank is distinct from the Reserve Bank of India (the central bank).

INR Transfers and Reserve Bank Regulations

The Indian rupee (INR) is a partially convertible currency regulated by the Reserve Bank of India (RBI). Incoming international wires must comply with FEMA (Foreign Exchange Management Act) regulations. The purpose of remittance must be declared and coded under RBI guidelines.

Bank of India settles incoming INR transfers within 1 to 2 business days. The bank charges INR 150 to INR 500 for incoming wires depending on amount and currency. Senders need the recipient's IFSC code (Indian Financial System Code) in addition to the SWIFT code for branch-level routing.

Government Banking and Public Sector Role

As a public sector bank, Bank of India handles government salary disbursements, pension payments, and subsidy distribution. The bank processes a significant volume of NRI (Non-Resident Indian) remittances — India receives over $100 billion annually in inward remittances, the largest in the world.

Bank of India's overseas branches in London, New York, Tokyo, and Hong Kong serve as direct corridors for INR remittances, reducing intermediary bank fees for transfers from those locations.

How Slash fits in

Slash tracks INR wire transfers through Bank of India alongside your other Indian and international banking accounts. Inward remittance flows and vendor payments are recorded with exchange rate detail for treasury reconciliation.