Axis Bank Ahmednagar Newasa Maharashtra MICR CODE

Find MICR Codes for Axis Bank Ahmednagar Newasa Maharashtra

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MICR Code	-NA-
Bank	Axis Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Newasa
Contact	2427-8857934383
Bank Details	Axis Bank Newasa UTIB0006085

Location	Ahmednagar, Newasa
City	Ahmednagar
District	Newasa
State	Maharashtra
Pincode	414105
Country	IN
Address	Ground floor, shop no 46 to 55 gate no 109 agriculture produced market committee, al po newasa

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 Newasa 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 Axis Bank, Newasa branch makes the system almost error free and faster. Use of Axis Bank MICR codes for Newasa branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Axis Bank are available with micr code -

>>Mula Sahakari Bank Ltd >>Newasa

MICR code for Axis Bank Newasa

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

Use of Axis Bank MICR code for Newasa branch in ahmednagar

The MICR code 0 is used in RBI cheque clearing process to identify the branch Newasa and Axis 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 Axis Bank is typically in either of these two font’s: E-138 and CMC-7.

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