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Lakshmi Vilas Bank Chennai Chennai Tamil Nadu MICR CODE

Find MICR Codes for Lakshmi Vilas Bank Chennai Chennai Tamil Nadu

MICR Code
Bank Lakshmi Vilas Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Kolathur
Contact 0
Bank Details Lakshmi Vilas Bank Ltd Kolathur LAVB0000325
Location Chennai, Chennai
City Chennai
District Chennai
State Tamil Nadu
Pincode
Country IN
Address No.26 7 1 first main road srinivasa nagar kolathur
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 600056045 for Kolathur 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 600056045 of LV Bank, Kolathur branch makes the system almost error free and faster. Use of LV Bank MICR codes for Kolathur branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Lakshmi Vilas Bank Kolathur

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 Kolathur 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. 600056045 is the MICR code of Lakshmi Vilas Bank for Kolathur branch. MICR code for Kolathur 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 Kolathur is presented in the table alongside.

Use of LV Bank MICR code for Kolathur branch in chennai

The MICR code 600056045 is used in RBI cheque clearing process to identify the branch Kolathur 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.