MICR Code Bank
Find MICR code for Nashik Merchant Bank Ambad branches in India for NEFT and RTGS transfer

Nashik Merchant Bank Ambad MICR CODE

Find MICR Codes for Nashik Merchant Bank Ambad

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  1. The Nasik Merchants Co-Op Bank Ltd »
  2. Maharashtra »
  3. nasik »
  4. nashik »
  5. ambad (i.e.)

Find MICR Codes for Nashik Merchant Bank Ambad

MICR Code: 422369012
Bank: The Nasik Merchants Co-Op Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Ambad (I.E.)
Contact: 0253- 2308230; Mr. Kochar S.C.
Bank Details: The Nasik Merchants Co-Op Bank Ltd Ambad (I.E.) NMCB0000014
Location: Nashik, Nasik
City: Nashik
District: Nasik
State: Maharashtra
Pincode: 422010
Country: IN
Address: "dhanashri ", p/4, m.i.d.c. , ambad, nashik 422010

How does MICR code for ambad 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 NAMCO Bank, ambad branch makes the system almost error free and faster. Use of NAMCO Bank MICR codes for ambad branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Nashik Merchant Bank ambad

Nashik Merchant Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. NAMCO Bank MICR code for ambad 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 Nashik Merchant Cooperative Bank for ambad branch. MICR code for ambad 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 NAMCO Bank ambad is presented in the table alongside.

Use of NAMCO Bank MICR code for ambad branch in nashik

The MICR code is used in RBI cheque clearing process to identify the branch ambad and NAMCO 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 Nashik Merchant Cooperative Bank is typically in either of these two font’s: E-138 and CMC-7.