IDBI Alibag Raigad Maharashtra MICR CODE

Find MICR Codes for IDBI Alibag Raigad Maharashtra

Bank
State
District
City
Branch
Address

MICR Code	-NA-
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	Pen
Contact	Gopal Waman Jere , 02143-252111 / 252444
Bank Details	Idbi Bank Ltd Pen IBKL0000332

Location	Alibag, Raigad
City	Alibag
District	Raigad
State	Maharashtra
Pincode	402107
Country	IN
Address	Idbi bank, center point, pen, raighad,pen,maharashtra,402107

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

A total of 8 branches of Idbi Bank Ltd are available with micr code -

>>Alibag >>Alibag Co Op Urban Bank Ltd Alibag >>Alibaug >>Dhokawade >>Kharghar >>Pen >>Poynad >>Vave

MICR code for IDBI Pen

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

Use of IDBI Bank MICR code for Pen branch in alibag

The MICR code 0 is used in RBI cheque clearing process to identify the branch Pen 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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