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New India Bank Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for New India Bank Mumbai Mumbai Maharashtra

MICR Code
Bank New India Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Lower Parel
Contact
Bank Details New India Co-Op Bank Ltd Lower Parel NICB0000027
Location Mumbai, Mumbai
City Mumbai
District Mumbai
State Maharashtra
Pincode 400013
Country IN
Address P3, raghuvanshi mills compound, 11/12,ssenapati 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 400085027 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 400085027 of New India Co Op Bank, Lower Parel branch makes the system almost error free and faster. Use of New India Co Op Bank MICR codes for Lower Parel branch, makes the characters readable even if there are other marks and stamps on it.

A total of 18 branches of New India Co-Op Bank Ltd are available with micr code -

>>Andheri >>Bandra >>Borivali >>Chembur >>Fort >>Ghatkopar >>Girgaum >>Goregaon >>Gunbow Street >>Kandivali >>Lower Parel >>Malad (E) >>Malad (W) >>Mulund >>New Link Road Andheri West >>Santacruz (E) >>Vasai >>Versova

MICR code for New India Bank Lower Parel

New India Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. New India Co Op Bank 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. 400085027 is the MICR code of New India Co Operative Bank 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 New India Co Op Bank Lower Parel is presented in the table alongside.

Use of New India Co Op Bank MICR code for Lower Parel branch in mumbai

The MICR code 400085027 is used in RBI cheque clearing process to identify the branch Lower Parel and New India 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 New India Co Operative Bank is typically in either of these two font’s: E-138 and CMC-7.