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Punjab And Maharashtra Bank Mumbai Greater Bombay Maharashtra MICR CODE

Find MICR Codes for Punjab And Maharashtra Bank Mumbai Greater Bombay Maharashtra

MICR Code
Bank Punjab And Maharashtra Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Goregaon West
Contact 9167015757
Bank Details Punjab And Maharashtra Co-Op Bank Ltd Goregaon West PMCB0000053
Location Mumbai, Greater Bombay
City Mumbai
District Greater Bombay
State Maharashtra
Pincode 400104
Country IN
Address Shop no 66 and 69 ground floor and first floor, harmony link road, goregaon west,mumbai 400104
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 400328053 for Goregaon West 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 400328053 of Punjab Maharashtra Bank, Goregaon West branch makes the system almost error free and faster. Use of Punjab Maharashtra Bank MICR codes for Goregaon West branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Punjab And Maharashtra Bank Goregaon West

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 Goregaon West 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. 400328053 is the MICR code of Punjab And Maharashtra Coop Bank for Goregaon West branch. MICR code for Goregaon West 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 Goregaon West is presented in the table alongside.

Use of Punjab Maharashtra Bank MICR code for Goregaon West branch in mumbai

The MICR code 400328053 is used in RBI cheque clearing process to identify the branch Goregaon West 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.