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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 Sector 42
Contact 0172 602890
Bank Details Punjab And Sind Bank Chandigarh Sector 42 PSIB0000748
Location Chandigarh, Chandigarh
City Chandigarh
District Chandigarh
State Chandigarh
Pincode 160036
Country IN
Address S.c.o. 43, sector-42c, chandigarh-160036
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 160023029 for Chandigarh Sector 42 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 160023029 of Punjab Sind Bank, Chandigarh Sector 42 branch makes the system almost error free and faster. Use of Punjab Sind Bank MICR codes for Chandigarh Sector 42 branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Punjab And Sind Bank Chandigarh Sector 42

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 Sector 42 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. 160023029 is the MICR code of PSB Bank for Chandigarh Sector 42 branch. MICR code for Chandigarh Sector 42 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 Sector 42 is presented in the table alongside.

Use of Punjab Sind Bank MICR code for Chandigarh Sector 42 branch in chandigarh

The MICR code 160023029 is used in RBI cheque clearing process to identify the branch Chandigarh Sector 42 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.