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

Model Bank MICR CODE

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  1. Model Co-Op bank ltd »
  2. Maharashtra »
  3. mumbai »
  4. palghar »
  5. virar

Find MICR Codes for Model Bank

MICR Code: 400807020
Bank: Model Co-Op bank ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Virar
Contact: 250-2514973
Bank Details: Model Co-Op bank ltd Virar MDBK0000031
Location: Palghar, Mumbai
City: Palghar
District: Mumbai
State: Maharashtra
Pincode:
Country: IN
Address: Shop no.1,gangotri chs,virat nagar,virar west

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

A total of 3 branches of Model Co-Op bank ltd are available with micr code

>>Palghar >>Vasai West >>Virar

MICR code for Model Bank

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 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 Model Co Op Bank Ltd 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 Model Cooperative Bank Ltd is presented in the table alongside.

Use of Model Cooperative Bank Ltd MICR code for branch in palghar

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