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Bombay Mercantile Bank Palanpur Palanpur Gujarat MICR CODE

Find MICR Codes for Bombay Mercantile Bank Palanpur Palanpur Gujarat

MICR Code
Bank Bombay Mercantile Co Op Bank Limited
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Palanpur
Contact 2742-254622
Bank Details Bombay Mercantile Co Op Bank Limited Palanpur BMCB0000040
Location Palanpur, Palanpur
City Palanpur
District Palanpur
State Gujarat
Pincode
Country IN
Address Vardhaman shopping centre, 1st floor, gatta naman gate, palanpur
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 385069001 for Palanpur 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 385069001 of Bombay Mercantile Co Op Bank Limited, Palanpur branch makes the system almost error free and faster. Use of Bombay Mercantile Co Op Bank Limited MICR codes for Palanpur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Bombay Mercantile Co Op Bank Limited are available with micr code -

>>Palanpur

MICR code for Bombay Mercantile Bank Palanpur

Bombay Mercantile Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Bombay Mercantile Co Op Bank Limited MICR code for Palanpur 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. 385069001 is the MICR code of Bombay Mercantile Bank for Palanpur branch. MICR code for Palanpur 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 Bombay Mercantile Co Op Bank Limited Palanpur is presented in the table alongside.

Use of Bombay Mercantile Co Op Bank Limited MICR code for Palanpur branch in palanpur

The MICR code 385069001 is used in RBI cheque clearing process to identify the branch Palanpur and Bombay Mercantile Co Op Bank Limited 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 Bombay Mercantile Bank is typically in either of these two font’s: E-138 and CMC-7.