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Maharashtra Gramin Bank Thane Tokawade Maharashtra MICR CODE

Find MICR Codes for Maharashtra Gramin Bank Thane Tokawade Maharashtra

Bank
State
District
City
Branch
Address

MICR Code	400570503
Bank	Maharashtra Gramin Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Tokawade
Contact	242041
Bank Details	Maharashtra Gramin Bank Tokawade MAHG0005603

Location	Thane, Tokawade
City	Thane
District	Tokawade
State	Maharashtra
Pincode	421402
Country	IN
Address	At tokawade tq dist thane

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 400570503 for Tokawade 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 400570503 of Maha Gramin Bank, Tokawade branch makes the system almost error free and faster. Use of Maha Gramin Bank MICR codes for Tokawade 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 -

>>Tokawade

MICR code for Maharashtra Gramin Bank Tokawade

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 Tokawade 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. 400570503 is the MICR code of Maharashtra Gramin Bank for Tokawade branch. MICR code for Tokawade 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 Tokawade is presented in the table alongside.

Use of Maha Gramin Bank MICR code for Tokawade branch in thane

The MICR code 400570503 is used in RBI cheque clearing process to identify the branch Tokawade 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.