North East Small Finance Bank kolasib MICR codes are given in the table alongside. Details including address and contact numbers are also provided. From NESFB MICR codes list for kolasib, one can further search by branch name specified in the table. You can find MICR codes for all North East Small Finance Bank kolasib branches.
North East Small Finance Bank MICR code is a character recognition technology used by banks in the processing of cheques. NESFB MICR code for kolasib branches includes document type indicator, bank code, cheque number, etc. This code is printed in either of the two fonts E-138 and CMC-7 using a magnetic ink or toner, usually containing iron oxide. The MICR code for North East Small Finance Bank branches in kolasib, is used to identify the bank branch to which the cheque belongs. It is used by RBI for clearance of cheques.
In manual clearing of cheques, there is a possibility of many errors and a long delay is involved. The characters of MICR code for a North East Small Finance Bank kolasib branch, sprinted 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. Thus MICR code for NESFB kolasib branches speeds up the processing of cheque as it reduces manual effort of sorting. Use of North East Small Finance Bank MICR codes for kolasib branches, makes the characters readable even if there are other marks and stamps on it. This makes the system almost error proof!