MICR Code Bank
Find MICR code for Punjab And Maharashtra Bank branches in India for NEFT and RTGS transfer

Punjab And Maharashtra Bank MICR CODE

Find MICR Codes for Punjab And Maharashtra Bank

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  1. Punjab And Maharashtra Co-Op Bank Ltd »
  2. Maharashtra »
  3. greater bombay »
  4. mumbai »
  5. bhandup west

Find MICR Codes for Punjab And Maharashtra Bank

MICR Code: 400328056
Bank: Punjab And Maharashtra Co-Op Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Bhandup West
Contact: 9870302113
Bank Details: Punjab And Maharashtra Co-Op Bank Ltd Bhandup West PMCB0000056
Location: Mumbai, Greater Bombay
City: Mumbai
District: Greater Bombay
State: Maharashtra
Pincode: 400078
Country: IN
Address: Ground flr and first flr, shop no 102 103, thakkar heights, near nahur stattion village road,bhandup west mumbai 400078

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

MICR code for Punjab And Maharashtra Bank

Punjab And Maharashtra Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Punjab Maharashtra Bank MICR code for 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 Punjab And Maharashtra Coop Bank for branch. MICR code for 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 Punjab Maharashtra Bank is presented in the table alongside.

Use of Punjab Maharashtra Bank MICR code for branch in mumbai

The MICR code is used in RBI cheque clearing process to identify the branch and Punjab Maharashtra 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 Punjab And Maharashtra Coop Bank is typically in either of these two font’s: E-138 and CMC-7.