MICR Code Bank
Find MICR code for RBI branches in India for NEFT and RTGS transfer

RBI MICR CODE

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  1. Reserve Bank Of India »
  2. Goa »
  3. panaji »
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  5. panaji

Find MICR Codes for RBI

MICR Code: -NA-
Bank: Reserve Bank Of India
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Panaji
Contact:
Bank Details: Reserve Bank Of India Panaji RBIS0PJPA01
Location: Panaji, Panaji
City: Panaji
District: Panaji
State: Goa
Pincode: 403001
Country: IN
Address: Geras imperium ii 7th floor 70706 patto panaji goa 403001

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

A total of 1 branches of Reserve Bank Of India are available with micr code

>>Panaji

MICR code for RBI

RBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Reserve Bank Of India 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 RBI 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 Reserve Bank Of India is presented in the table alongside.

Use of Reserve Bank Of India MICR code for branch in panaji

The MICR code is used in RBI cheque clearing process to identify the branch and Reserve Bank Of India 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 RBI Bank is typically in either of these two font’s: E-138 and CMC-7.