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Punjab And Sind Bank Chandigarh Chandigarh Chandigarh MICR CODE

Find MICR Codes for Punjab And Sind Bank Chandigarh Chandigarh Chandigarh

MICR Code
Bank Punjab And Sind Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Chandigarh Industrial Area
Contact 0172-650173
Bank Details Punjab And Sind Bank Chandigarh Industrial Area PSIB0000245
Location Chandigarh, Chandigarh
City Chandigarh
District Chandigarh
State Chandigarh
Pincode 160002
Country IN
Address 4-5 m.w.market industrial area phase-i chandigarh-160002
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 160023010 for Chandigarh Industrial Area 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 160023010 of Punjab Sind Bank, Chandigarh Industrial Area branch makes the system almost error free and faster. Use of Punjab Sind Bank MICR codes for Chandigarh Industrial Area branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Punjab And Sind Bank Chandigarh Industrial Area

Punjab And Sind Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Punjab Sind Bank MICR code for Chandigarh Industrial Area 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. 160023010 is the MICR code of PSB Bank for Chandigarh Industrial Area branch. MICR code for Chandigarh Industrial Area 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 Sind Bank Chandigarh Industrial Area is presented in the table alongside.

Use of Punjab Sind Bank MICR code for Chandigarh Industrial Area branch in chandigarh

The MICR code 160023010 is used in RBI cheque clearing process to identify the branch Chandigarh Industrial Area and Punjab Sind 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 PSB Bank is typically in either of these two font’s: E-138 and CMC-7.