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Model Bank Raigad Mumbai Maharashtra MICR CODE

Find MICR Codes for Model Bank Raigad Mumbai Maharashtra

MICR Code
Bank Model Co-Op bank ltd
Business Hours
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.

Search Model Bank MICR Codes in mumbai

You can search through MICR Codes of Maharashtra branches in raigad of District mumbai in Maharashtra State by using the search box or you can browse through the table using the conrols at the bottom.

Model Co-Op bank ltd branches with micr codes are available in 6 cities-

>>Bhiwandi >>Mumbai >>Navi Mumbai >>Palghar >>Raigad >>Thane

How to find MICR codes for Model Bank in raigad?

Model Bank raigad MICR codes are given in the table alongside. Details including address and contact numbers are also provided. From Model Cooperative Bank Ltd MICR codes list for raigad, one can further search by branch name specified in the table. You can find MICR codes for all Model Bank raigad branches.

Model Cooperative Bank Ltd MICR code in raigad

Model Bank MICR code is a character recognition technology used by banks in the processing of cheques. Model Cooperative Bank Ltd MICR code for raigad branches includes document type indicator, bank code, cheque number, etc. This code is printed in either of the two fonts E-138 and CMC-7 using a magnetic ink or toner, usually containing iron oxide. The MICR code for Model Co Op Bank Ltd branches in raigad, is used to identify the bank branch to which the cheque belongs. It is used by RBI for clearance of cheques.

How does Model Co Op Bank Ltd MICR code for raigad branches speed up the processing of cheques?

In manual clearing of cheques, there is a possibility of many errors and a long delay is involved. The characters of MICR code for a Model Bank raigad branch, sprinted 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. Thus MICR code for Model Cooperative Bank Ltd raigad branches speeds up the processing of cheque as it reduces manual effort of sorting. Use of Model Co Op Bank Ltd MICR codes for raigad branches, makes the characters readable even if there are other marks and stamps on it. This makes the system almost error proof!