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Mahanagar Bank Thane Thane Maharashtra MICR CODE

Find MICR Codes for Mahanagar Bank Thane Thane Maharashtra

MICR Code
Bank Mahanagar Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Bhiwandi
Contact 24710821
Bank Details Mahanagar Co-Op Bank Ltd Bhiwandi MCBL0960037
Location Thane, Thane
City Thane
District Thane
State Maharashtra
Pincode 421302
Country IN
Address Shop no 8 9 and 10 grnd floor ashok hotel bldg kalyan bhiwandi rd dist thane 421302
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 400096037 for Bhiwandi 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 400096037 of Mahanagar Co Op Bank, Bhiwandi branch makes the system almost error free and faster. Use of Mahanagar Co Op Bank MICR codes for Bhiwandi branch, makes the characters readable even if there are other marks and stamps on it.

A total of 6 branches of Mahanagar Co-Op Bank Ltd are available with micr code -

>>Badlapur >>Bhiwandi >>Savarkar Nagar >>Thane Naralipada >>Ulhasnagar >>Vartakanagar

MICR code for Mahanagar Bank Bhiwandi

Mahanagar Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Mahanagar Co Op Bank MICR code for Bhiwandi 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. 400096037 is the MICR code of Mahanagar Cooperative Bank for Bhiwandi branch. MICR code for Bhiwandi 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 Mahanagar Co Op Bank Bhiwandi is presented in the table alongside.

Use of Mahanagar Co Op Bank MICR code for Bhiwandi branch in thane

The MICR code 400096037 is used in RBI cheque clearing process to identify the branch Bhiwandi and Mahanagar Co Op 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 Mahanagar Cooperative Bank is typically in either of these two font’s: E-138 and CMC-7.