IDBI Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for IDBI Mumbai Mumbai Maharashtra

MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Goregaon Mumbai
Contact 022-26864080 9820641847 9869452461 9324353027
Bank Details Idbi Bank Ltd Goregaon Mumbai IBKL0000539
Location Mumbai, Mumbai
City Mumbai
District Mumbai
State Maharashtra
Pincode 400063
Country IN
Address 10, jaiprakash nagar,, opp. Sonal apartment,, road no.2, goregaon (east) mumbai, pincode - 400063
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 400259042 for Goregaon Mumbai 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 400259042 of IDBI Bank, Goregaon Mumbai branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Goregaon Mumbai branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for IDBI Goregaon Mumbai

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Goregaon Mumbai 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. 400259042 is the MICR code of IDBI for Goregaon Mumbai branch. MICR code for Goregaon Mumbai 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 Goregaon Mumbai is presented in the table alongside.

Use of IDBI Bank MICR code for Goregaon Mumbai branch in mumbai

The MICR code 400259042 is used in RBI cheque clearing process to identify the branch Goregaon Mumbai 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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