MICR Code Bank
Find MICR code for Punjab And Sind Bank branches in India for NEFT and RTGS transfer

Punjab And Sind Bank MICR CODE

Find MICR Codes for Punjab And Sind Bank

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  1. Punjab And Sind Bank »
  2. Maharashtra »
  3. mumbai »
  4. mumbai »
  5. koliwada mumbai

Find MICR Codes for Punjab And Sind Bank

MICR Code: 423023004
Bank: Punjab And Sind Bank
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Koliwada Mumbai
Contact: 022 23693321
Bank Details: Punjab And Sind Bank Koliwada Mumbai PSIB0000329
Location: Mumbai, Mumbai
City: Mumbai
District: Mumbai
State: Maharashtra
Pincode: 400006
Country: IN
Address: 229, raghunath chambers sion, koliwada mumbai-400006

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

MICR code for Punjab And Sind Bank

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

Use of Punjab Sind Bank MICR code for branch in mumbai

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