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Punjab And Maharashtra Bank Thane Thane Maharashtra MICR CODE

Find MICR Codes for Punjab And Maharashtra Bank Thane Thane Maharashtra

MICR Code
Bank Punjab And Maharashtra Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Palghar
Contact
Bank Details Punjab And Maharashtra Co-Op Bank Ltd Palghar PMCB0000028
Location Thane, Thane
City Thane
District Thane
State Maharashtra
Pincode 401401
Country IN
Address Palghar land development corp, lions club bldg., kacheri road, palghar
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 0 for Palghar 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 0 of Punjab Maharashtra Bank, Palghar branch makes the system almost error free and faster. Use of Punjab Maharashtra Bank MICR codes for Palghar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 13 branches of Punjab And Maharashtra Co-Op Bank Ltd are available with micr code -

>>Ambernath >>Badlapur >>Brahmand Society Thane >>Diva East >>Kalwa >>Kasarvadavali >>Kashi Village Thane >>Kavesar >>Kolshet Road Thane >>Majiwade Thane >>Palghar >>Vasai >>Waghle Estate Thane

MICR code for Punjab And Maharashtra Bank Palghar

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 Palghar 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. 0 is the MICR code of Punjab And Maharashtra Coop Bank for Palghar branch. MICR code for Palghar 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 Palghar is presented in the table alongside.

Use of Punjab Maharashtra Bank MICR code for Palghar branch in thane

The MICR code 0 is used in RBI cheque clearing process to identify the branch Palghar 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.