IDBI Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for IDBI Panvel Raigad Maharashtra

Bank
State
District
City
Branch
Address

MICR Code	400259505
Bank	Idbi Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Dapoli Raigad
Contact	9833947055
Bank Details	Idbi Bank Ltd Dapoli Raigad IBKL0001423

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410206
Country	IN
Address	Laxman nivas, dapoli, po-pargaon, tal-panvel, raigad-410206

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 400259505 for Dapoli Raigad 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 400259505 of IDBI Bank, Dapoli Raigad branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Dapoli Raigad branch, makes the characters readable even if there are other marks and stamps on it.

A total of 7 branches of Idbi Bank Ltd are available with micr code -

>>Dapoli Raigad >>Khanda Colony >>Old Panvel >>Panvel >>Panvel >>Sangade >>The Panvelurban Coop Bank

MICR code for IDBI Dapoli Raigad

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Dapoli Raigad 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. 400259505 is the MICR code of IDBI for Dapoli Raigad branch. MICR code for Dapoli Raigad 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 IDBI Bank Dapoli Raigad is presented in the table alongside.

Use of IDBI Bank MICR code for Dapoli Raigad branch in panvel

The MICR code 400259505 is used in RBI cheque clearing process to identify the branch Dapoli Raigad and IDBI 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 IDBI is typically in either of these two font’s: E-138 and CMC-7.

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