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Model Bank Raigad Mumbai Maharashtra MICR CODE

Find MICR Codes for Model Bank Raigad Mumbai Maharashtra

Bank
State
District
City
Branch
Address

MICR Code	400807025
Bank	Model Co-Op bank ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Panvel
Contact	22-27459047
Bank Details	Model Co-Op bank ltd Panvel MDBK0000033

Location	Raigad, Mumbai
City	Raigad
District	Mumbai
State	Maharashtra
Pincode
Country	IN
Address	Shop no 3-5,crystal apts,plot no.25,panvel-matheran road,sector 19,new panvel

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 400807025 for Panvel 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 400807025 of Model Cooperative Bank Ltd, Panvel branch makes the system almost error free and faster. Use of Model Cooperative Bank Ltd MICR codes for Panvel branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Model Co-Op bank ltd are available with micr code -

>>Panvel

MICR code for Model Bank Panvel

Model Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Model Cooperative Bank Ltd MICR code for Panvel 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. 400807025 is the MICR code of Model Co Op Bank Ltd for Panvel branch. MICR code for Panvel 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 Model Cooperative Bank Ltd Panvel is presented in the table alongside.

Use of Model Cooperative Bank Ltd MICR code for Panvel branch in raigad

The MICR code 400807025 is used in RBI cheque clearing process to identify the branch Panvel and Model Cooperative Bank Ltd 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 Model Co Op Bank Ltd is typically in either of these two font’s: E-138 and CMC-7.