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Lakshmi Vilas Bank Bhopal Bhopal Madhya Pradesh MICR CODE

Find MICR Codes for Lakshmi Vilas Bank Bhopal Bhopal Madhya Pradesh

MICR Code
Bank Lakshmi Vilas Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Bhopal
Contact
Bank Details Lakshmi Vilas Bank Ltd Bhopal LAVB0000150
Location Bhopal, Bhopal
City Bhopal
District Bhopal
State Madhya Pradesh
Pincode 462001
Country IN
Address Kwality business center, plot no 7, zone ii
Note: The working hours listed are generalized for all banks. Please take a note that the bank timings may vary from branch to branch. As per guidelines issued by Reserve Bank of India, banks will not be operational on 2nd and 4th Saturdays and all Sundays of a month.

How does MICR code 0 for Bhopal branch help to speed up the cheque clearing process?

In manual clearing of cheques, many errors may occur and the whole process is quite time consuming. The MICR technology speeds up the processing of cheque as it reduces manual efforts of sorting. Thus the 0 of LV Bank, Bhopal branch makes the system almost error free and faster. Use of LV Bank MICR codes for Bhopal branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Lakshmi Vilas Bank Ltd are available with micr code -

>>Bhopal

MICR code for Lakshmi Vilas Bank Bhopal

Lakshmi Vilas Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. LV Bank MICR code for Bhopal is a 9 digit code, in which first 3 digit represents the city code, next 3 digit to bank code and later 3 digit to branch code. 0 is the MICR code of Lakshmi Vilas Bank for Bhopal branch. MICR code for Bhopal branch includes document type indicator, bank code, cheque number, etc. When a cheque goes for clearing, this code is read by a magnetic reader and then automatically sorted. MICR code for LV Bank Bhopal is presented in the table alongside.

Use of LV Bank MICR code for Bhopal branch in bhopal

The MICR code 0 is used in RBI cheque clearing process to identify the branch Bhopal and LV Bank bank for clearing processes. The MICR characters, which are printed using magnetic ink, are passed before a MICR reader. Initially the ink gets magnetized and when it is read, each character produces a unique waveform which can be easily identified. MICR code of Lakshmi Vilas Bank is typically in either of these two font’s: E-138 and CMC-7.