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NKGSB Bank Madgaon Margao Goa MICR CODE

Find MICR Codes for NKGSB Bank Madgaon Margao Goa

MICR Code
Bank Nkgsb Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Madgaon
Contact Branch Head 9423416206 / 9769979787
Bank Details Nkgsb Co-Op Bank Ltd Madgaon NKGS0000057
Location Madgaon, Margao
City Madgaon
District Margao
State Goa
Pincode 403601
Country IN
Address Regency plaza, behind police station,comba, madgaon - 403601
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 0 for Madgaon 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 0 of NKGSB Co Op Bank, Madgaon branch makes the system almost error free and faster. Use of NKGSB Co Op Bank MICR codes for Madgaon branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Nkgsb Co-Op Bank Ltd are available with micr code -

>>Madgaon

MICR code for NKGSB Bank Madgaon

NKGSB Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. NKGSB Co Op Bank MICR code for Madgaon 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. 0 is the MICR code of NKGSB Cooperative Bank for Madgaon branch. MICR code for Madgaon 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 NKGSB Co Op Bank Madgaon is presented in the table alongside.

Use of NKGSB Co Op Bank MICR code for Madgaon branch in madgaon

The MICR code 0 is used in RBI cheque clearing process to identify the branch Madgaon and NKGSB Co Op 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 NKGSB Cooperative Bank is typically in either of these two font’s: E-138 and CMC-7.