Let Others Know
×
LinkedIn
Email
WhatsApp

New India Bank Thane Thane Maharashtra MICR CODE

Find MICR Codes for New India Bank Thane Thane Maharashtra

MICR Code
Bank New India Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Majiwade
Contact 64532787/88/89
Bank Details New India Co-Op Bank Ltd Majiwade NICB0000018
Location Thane, Thane
City Thane
District Thane
State Maharashtra
Pincode 400601
Country IN
Address Amrapali arcazde, vasant vihar, 2nd pokhran road, majiwade, thane (w) 400 601
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 400085018 for Majiwade 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 400085018 of New India Co Op Bank, Majiwade branch makes the system almost error free and faster. Use of New India Co Op Bank MICR codes for Majiwade branch, makes the characters readable even if there are other marks and stamps on it.

A total of 5 branches of New India Co-Op Bank Ltd are available with micr code -

>>Majiwade >>Mira Road >>Panchpakhadi >>Poonam Garden Mira Road >>Virar

MICR code for New India Bank Majiwade

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 Majiwade 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. 400085018 is the MICR code of New India Co Operative Bank for Majiwade branch. MICR code for Majiwade 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 Majiwade is presented in the table alongside.

Use of New India Co Op Bank MICR code for Majiwade branch in thane

The MICR code 400085018 is used in RBI cheque clearing process to identify the branch Majiwade 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.