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Punjab And Maharashtra Bank Sagar Shimoga Karnataka MICR CODE

Find MICR Codes for Punjab And Maharashtra Bank Sagar Shimoga Karnataka

Bank
State
District
City
Branch
Address

MICR Code	577328402
Bank	Punjab And Maharashtra Co-Op Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Sagar
Contact	9739178013
Bank Details	Punjab And Maharashtra Co-Op Bank Ltd Sagar PMCB0000308

Location	Sagar, Shimoga
City	Sagar
District	Shimoga
State	Karnataka
Pincode	577401
Country	IN
Address	Ashok road, sagar-577401 dist :shimoga

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 577328402 for Sagar 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 577328402 of Punjab Maharashtra Bank, Sagar branch makes the system almost error free and faster. Use of Punjab Maharashtra Bank MICR codes for Sagar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Punjab And Maharashtra Co-Op Bank Ltd are available with micr code -

>>Sagar

MICR code for Punjab And Maharashtra Bank Sagar

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 Sagar 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. 577328402 is the MICR code of Punjab And Maharashtra Coop Bank for Sagar branch. MICR code for Sagar 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 Sagar is presented in the table alongside.

Use of Punjab Maharashtra Bank MICR code for Sagar branch in sagar

The MICR code 577328402 is used in RBI cheque clearing process to identify the branch Sagar 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.