MICR Code Bank
Find MICR code for Maharashtra Gramin Bank branches in India for NEFT and RTGS transfer

Maharashtra Gramin Bank MICR CODE

Find MICR Codes for Maharashtra Gramin Bank

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  1. Maharashtra Gramin Bank »
  2. Maharashtra »
  3. khandala »
  4. aurangabad »
  5. khandala

Find MICR Codes for Maharashtra Gramin Bank

MICR Code: 431570523
Bank: Maharashtra Gramin Bank
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Khandala
Contact: 281325
Bank Details: Maharashtra Gramin Bank Khandala MAHG0005105
Location: Aurangabad, Khandala
City: Aurangabad
District: Khandala
State: Maharashtra
Pincode: 443201
Country: IN
Address: At khandala tq dist aurangabad

How does MICR code for 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 of Maha Gramin Bank, branch makes the system almost error free and faster. Use of Maha Gramin Bank MICR codes for branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Maharashtra Gramin Bank are available with micr code

>>Khandala

MICR code for Maharashtra Gramin Bank

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

Use of Maha Gramin Bank MICR code for branch in aurangabad

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