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Punjab And Sind Bank Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for Punjab And Sind Bank Mumbai Mumbai Maharashtra

MICR Code
Bank Punjab And Sind Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Ibd Mumbai
Contact 022-22043187/22046151
Bank Details Punjab And Sind Bank Ibd Mumbai PSIB0000631
Location Mumbai, Mumbai
City Mumbai
District Mumbai
State Maharashtra
Pincode
Country IN
Address Dilwara society,8-m.k.road, nariman point mumbai
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 400023014 for Ibd Mumbai 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 400023014 of Punjab Sind Bank, Ibd Mumbai branch makes the system almost error free and faster. Use of Punjab Sind Bank MICR codes for Ibd Mumbai branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Punjab And Sind Bank Ibd Mumbai

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 Ibd Mumbai 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. 400023014 is the MICR code of PSB Bank for Ibd Mumbai branch. MICR code for Ibd Mumbai 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 Ibd Mumbai is presented in the table alongside.

Use of Punjab Sind Bank MICR code for Ibd Mumbai branch in mumbai

The MICR code 400023014 is used in RBI cheque clearing process to identify the branch Ibd Mumbai 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.