Indian Overseas Bank Patna Patna Bihar MICR CODE

Find MICR Codes for Indian Overseas Bank Patna Patna Bihar

Bank
State
District
City
Branch
Address

MICR Code	800020002
Bank	Indian Overseas Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Patna
Contact	P Suresh Kumar, Senior Manager, Indian Overseas Bank, Funds Department, Central Office,
Bank Details	Indian Overseas Bank Patna IOBA0000498

Location	Patna, Patna
City	Patna
District	Patna
State	Bihar
Pincode	800001
Country	IN
Address	Maurya centre;mazahar-ul-haque path;patna;800001

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 800020002 for Patna 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 800020002 of IOB Bank, Patna branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Patna branch, makes the characters readable even if there are other marks and stamps on it.

A total of 13 branches of Indian Overseas Bank are available with micr code -

>>Bihta >>Boring Road >>C B O Patna >>Exhibition Road >>Kankarbagh Colony >>Khaspur >>Kothawan >>Patna >>R R C Patna >>R.O.Patna >>Saguna More >>Shastri Nagar Patna >>Shiksha Bhawan Patna

MICR code for Indian Overseas Bank Patna

Indian Overseas Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IOB Bank MICR code for Patna 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. 800020002 is the MICR code of Overseas Bank for Patna branch. MICR code for Patna 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 IOB Bank Patna is presented in the table alongside.

Use of IOB Bank MICR code for Patna branch in patna

The MICR code 800020002 is used in RBI cheque clearing process to identify the branch Patna and IOB 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 Overseas Bank is typically in either of these two font’s: E-138 and CMC-7.

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