Indian Bank Karwar Uttara Kannada Karnataka MICR CODE

Find MICR Codes for Indian Bank Karwar Uttara Kannada Karnataka

Bank
State
District
City
Branch
Address

MICR Code	581019096
Bank	Indian Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Karwar
Contact	08382 226256
Bank Details	Indian Bank Karwar IDIB000K066

Location	Karwar, Uttara Kannada
City	Karwar
District	Uttara Kannada
State	Karnataka
Pincode	581301
Country	IN
Address	No 1286 radhakrishna temple rd karwar 581301

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 581019096 for Karwar 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 581019096 of Indian Bank, Karwar branch makes the system almost error free and faster. Use of Indian Bank MICR codes for Karwar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Indian Bank are available with micr code -

>>Karwar

MICR code for Indian Bank Karwar

Indian Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Indian Bank MICR code for Karwar 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. 581019096 is the MICR code of Indian Bank for Karwar branch. MICR code for Karwar 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 Indian Bank Karwar is presented in the table alongside.

Use of Indian Bank MICR code for Karwar branch in karwar

The MICR code 581019096 is used in RBI cheque clearing process to identify the branch Karwar and Indian 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 Indian Bank is typically in either of these two font’s: E-138 and CMC-7.

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