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Apna Sahakari Bank Mumbai Greater Bombay Maharashtra MICR CODE

Find MICR Codes for Apna Sahakari Bank Mumbai Greater Bombay Maharashtra

MICR Code
Bank Apna Sahakari Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Powai
Contact 022 25703097/ 25702614
Bank Details Apna Sahakari Bank Ltd Powai ASBL0000010
Location Mumbai, Greater Bombay
City Mumbai
District Greater Bombay
State Maharashtra
Pincode 400076
Country IN
Address Daffodil, 1st floor, hiranandani garden, powai, mumbai 400076
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 400098010 for Powai 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 400098010 of Apna Bank, Powai branch makes the system almost error free and faster. Use of Apna Bank MICR codes for Powai branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Apna Sahakari Bank Powai

Apna Sahakari Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Apna Bank MICR code for Powai 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. 400098010 is the MICR code of Apna Sahakari Bank for Powai branch. MICR code for Powai 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 Apna Bank Powai is presented in the table alongside.

Use of Apna Bank MICR code for Powai branch in mumbai

The MICR code 400098010 is used in RBI cheque clearing process to identify the branch Powai and Apna 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 Apna Sahakari Bank is typically in either of these two font’s: E-138 and CMC-7.