Industrial Bank Of Korea New Delhi New Delhi New Delhi MICR CODE

Find MICR Codes for Industrial Bank Of Korea New Delhi New Delhi New Delhi

MICR Code: 110744001
Bank: Industrial Bank of Korea
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: New Delhi Branch
Contact: 40768000
Bank Details: Industrial Bank of Korea New Delhi Branch IBKO0000001
Location: New Delhi, New Delhi
City: New Delhi
District: New Delhi
State: New Delhi
Pincode: 110037
Country: IN
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 110744001 for New Delhi Branch 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 110744001 of IBK, New Delhi Branch branch makes the system almost error free and faster. Use of IBK MICR codes for New Delhi Branch branch, makes the characters readable even if there are other marks and stamps on it.

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

>>New Delhi Branch

MICR code for Industrial Bank Of Korea New Delhi Branch

Industrial Bank Of Korea MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IBK MICR code for New Delhi Branch 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. 110744001 is the MICR code of IBK for New Delhi Branch branch. MICR code for New Delhi Branch 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 IBK New Delhi Branch is presented in the table alongside.

Use of IBK MICR code for New Delhi Branch branch in new delhi

The MICR code 110744001 is used in RBI cheque clearing process to identify the branch New Delhi Branch and IBK 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 IBK is typically in either of these two font’s: E-138 and CMC-7.