ICICI Ludhiana Ludhiana Punjab MICR CODE

Find MICR Codes for ICICI Ludhiana Ludhiana Punjab

MICR Code
Bank Icici Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Ludhiana Chaura Bazar
Contact 0
Bank Details Icici Bank Ltd Ludhiana Chaura Bazar ICIC0002378
Location Ludhiana, Ludhiana
City Ludhiana
District Ludhiana
State Punjab
Pincode 141001
Country IN
Address Icici bank ltd.b vii 41-42 near bata showroom chaura bazar ludhiana pincode 141001
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 Ludhiana Chaura Bazar 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 ICICI Bank, Ludhiana Chaura Bazar branch makes the system almost error free and faster. Use of ICICI Bank MICR codes for Ludhiana Chaura Bazar branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for ICICI Ludhiana Chaura Bazar

ICICI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. ICICI Bank MICR code for Ludhiana Chaura Bazar 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 Industrial Credit And Investment Corporation Of India for Ludhiana Chaura Bazar branch. MICR code for Ludhiana Chaura Bazar 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 ICICI Bank Ludhiana Chaura Bazar is presented in the table alongside.

Use of ICICI Bank MICR code for Ludhiana Chaura Bazar branch in ludhiana

The MICR code 0 is used in RBI cheque clearing process to identify the branch Ludhiana Chaura Bazar and ICICI 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 Industrial Credit And Investment Corporation Of India is typically in either of these two font’s: E-138 and CMC-7.

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