IDBI Hyderabad Hyderabad Andhra Pradesh MICR CODE

Find MICR Codes for IDBI Hyderabad Hyderabad Andhra Pradesh

Bank
State
District
City
Branch
Address

MICR Code	500259020
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	Santoshnagar
Contact	040-64650924-30 / Fax -040-64650923.
Bank Details	Idbi Bank Ltd Santoshnagar IBKL0001274

Location	Hyderabad, Hyderabad
City	Hyderabad
District	Hyderabad
State	Andhra Pradesh
Pincode	500060
Country	IN
Address	# 17-1-380/e/b, plot no. 13, central excise employees co-operative society (ce colony), saidabad, hyderabad, pin-500060

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 500259020 for Santoshnagar 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 500259020 of IDBI Bank, Santoshnagar branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Santoshnagar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 13 branches of Idbi Bank Ltd are available with micr code -

>>Bowenpally >>Ccu Hyderabad >>Charminar >>Chintal >>Currency Chest Hyderabad >>Dilsukhnagar >>Gachibowli >>Jubilee Hills Branch >>Lb Nagar Branch >>Retail Asset Hyderabad >>Santoshnagar >>The Kakatiya Co Operative Urban Bank Ltd >>Vanasthalipuram

MICR code for IDBI Santoshnagar

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Santoshnagar 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. 500259020 is the MICR code of IDBI for Santoshnagar branch. MICR code for Santoshnagar 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 Santoshnagar is presented in the table alongside.

Use of IDBI Bank MICR code for Santoshnagar branch in hyderabad

The MICR code 500259020 is used in RBI cheque clearing process to identify the branch Santoshnagar 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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