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NSDL Payments Bank Limited Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for NSDL Payments Bank Limited Mumbai Mumbai Maharashtra

MICR Code:
Bank: NSDL Payments Bank Limited
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Lower Parel
Contact: 224994200
Bank Details: NSDL Payments Bank Limited Lower Parel NSPB0000002
Location: Mumbai, Mumbai
City: Mumbai
District: Mumbai
State: Maharashtra
Pincode:
Country: IN
Address: 04th floor, a wing, trade world, kamala mills compound, senapati bapat marg, lower parel, mumbai - 400 013
MICR Code:
Bank: NSDL Payments Bank Limited
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Lower Parel
Contact: 224994200
Bank Details: NSDL Payments Bank Limited Lower Parel NSPB0000001
Location: Mumbai, Mumbai
City: Mumbai
District: Mumbai
State: Maharashtra
Pincode:
Country: IN
Address: 04th floor, a wing, trade world, kamala mills compound, senapati bapat marg, lower parel, mumbai - 400 013
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 Lower Parel 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 NSDL Payments Bank Limited, Lower Parel branch makes the system almost error free and faster. Use of NSDL Payments Bank Limited MICR codes for Lower Parel branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of NSDL Payments Bank Limited are available with micr code -

>>Lower Parel >>Lower Parel

MICR code for NSDL Payments Bank Limited Lower Parel

NSDL Payments Bank Limited MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. NSDL Payments Bank Limited MICR code for Lower Parel 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 NSDL Payments Bank Limited for Lower Parel branch. MICR code for Lower Parel 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 NSDL Payments Bank Limited Lower Parel is presented in the table alongside.

Use of NSDL Payments Bank Limited MICR code for Lower Parel branch in mumbai

The MICR code 0 is used in RBI cheque clearing process to identify the branch Lower Parel and NSDL Payments Bank Limited 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 NSDL Payments Bank Limited is typically in either of these two font’s: E-138 and CMC-7.