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Indian Bank Chandigarh Chandigarh Chandigarh MICR CODE

Find MICR Codes for Indian Bank Chandigarh Chandigarh Chandigarh

Bank
State
District
City
Branch
Address

MICR Code	160019002
Bank	Indian Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Sector 40
Contact	0172 2691977
Bank Details	Indian Bank Sector 40 IDIB000S071

Location	Chandigarh, Chandigarh
City	Chandigarh
District	Chandigarh
State	Chandigarh
Pincode	160036
Country	IN
Address	Sco 72-73 sector - 40 - c chandigarh 160036

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 160019002 for Sector 40 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 160019002 of Indian Bank, Sector 40 branch makes the system almost error free and faster. Use of Indian Bank MICR codes for Sector 40 branch, makes the characters readable even if there are other marks and stamps on it.

A total of 17 branches of Indian Bank are available with micr code -

>>Chandigarh >>Chandigarh Sector Seventeen B >>Chandigarh Sector Thirty Four >>Hallomajra >>Ind Retail Chandigarh >>Jujhar Nagar >>Lcb Chandigarh >>Lcb Madhyamarg Chandigarh >>Manimajra Chandigarh >>Sam Chandigarh >>Sector 20D >>Sector 34 Chandigarh >>Sector 37D >>Sector 40 >>Sector 45 Chandigarh >>Sector 9D Chandigarh >>Sector Fourty Chandigarh

MICR code for Indian Bank Sector 40

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 Sector 40 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. 160019002 is the MICR code of Indian Bank for Sector 40 branch. MICR code for Sector 40 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 Sector 40 is presented in the table alongside.

Use of Indian Bank MICR code for Sector 40 branch in chandigarh

The MICR code 160019002 is used in RBI cheque clearing process to identify the branch Sector 40 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.