MICR Code Bank
Find MICR code for IDBI Lower Parel branches in India for NEFT and RTGS transfer

IDBI Lower Parel MICR CODE

Find MICR Codes for IDBI Lower Parel

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  1. Idbi Bank Ltd »
  2. Maharashtra »
  3. mumbai »
  4. mumbai »
  5. lower parel (west) mumbai

Find MICR Codes for IDBI Lower Parel

MICR Code: 400259036
Bank: Idbi Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Lower Parel (West) Mumbai
Contact: 022-24908213/8206/8139/8348
Bank Details: Idbi Bank Ltd Lower Parel (West) Mumbai IBKL0000187
Location: Mumbai, Mumbai
City: Mumbai
District: Mumbai
State: Maharashtra
Pincode: 400013
Country: IN
Address: Tradeview, oasis complex, kamala mills compound, pb marg, lower parel (w), mumbai 400 013

How does MICR code 400259036 for lower parel 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 400259036 of IDBI Bank, lower parel branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for lower parel branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for IDBI lower parel

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for lower parel 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. 400259036 is the MICR code of IDBI for lower parel branch. MICR code for lower parel 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 lower parel is presented in the table alongside.

Use of IDBI Bank MICR code for lower parel branch in mumbai

The MICR code 400259036 is used in RBI cheque clearing process to identify the branch lower parel 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.