IDBI Palghar Thane Maharashtra MICR CODE

Find MICR Codes for IDBI Palghar Thane Maharashtra

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MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Palghar
Contact Trupti Salve (Som), Mob - 9820492409 Tel No. 02525-257474
Bank Details Idbi Bank Ltd Palghar IBKL0000307
Location Palghar, Thane
City Palghar
District Thane
State Maharashtra
Pincode 401404
Country IN
Address Ground floor, old uma villa, mahim road, palghar. Dist. Thane - 401404
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 400259077 for Palghar 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 400259077 of IDBI Bank, Palghar branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Palghar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 4 branches of Idbi Bank Ltd are available with micr code -

>>Agarwadi >>Karajgaon >>Palghar >>Shirgaon

MICR code for IDBI Palghar

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Palghar 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. 400259077 is the MICR code of IDBI for Palghar branch. MICR code for Palghar 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 Palghar is presented in the table alongside.

Use of IDBI Bank MICR code for Palghar branch in palghar

The MICR code 400259077 is used in RBI cheque clearing process to identify the branch Palghar 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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