MICR Code Bank
Find MICR code for Cosmos Bank Malad branches in India for NEFT and RTGS transfer

Cosmos Bank Malad MICR CODE

Find MICR Codes for Cosmos Bank Malad

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  1. Cosmos Co-Op Bank Ltd »
  2. Maharashtra »
  3. greater bombay »
  4. mumbai »
  5. malad (w)

Find MICR Codes for Cosmos Bank Malad

MICR Code: -NA-
Bank: Cosmos Co-Op Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Malad (W)
Contact:
Bank Details: Cosmos Co-Op Bank Ltd Malad (W) COSB0000099
Location: Mumbai, Greater Bombay
City: Mumbai
District: Greater Bombay
State: Maharashtra
Pincode: 400064
Country: IN
Address: Shop no. 6,7 & 8, keval tower, b.j. Patel road, malad (w), mumbai - 400064

How does MICR code 400164014 for malad 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 400164014 of Cosmos Cooperative Bank, malad branch makes the system almost error free and faster. Use of Cosmos Cooperative Bank MICR codes for malad branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Cosmos Bank malad

Cosmos Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Cosmos Cooperative Bank MICR code for malad 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. 400164014 is the MICR code of Cosmos Bank for malad branch. MICR code for malad 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 Cosmos Cooperative Bank malad is presented in the table alongside.

Use of Cosmos Cooperative Bank MICR code for malad branch in mumbai

The MICR code 400164014 is used in RBI cheque clearing process to identify the branch malad and Cosmos Cooperative 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 Cosmos Bank is typically in either of these two font’s: E-138 and CMC-7.