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

Ratnakar Bank MICR CODE

Find MICR Codes for Ratnakar Bank

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  1. Ratnakar Bank Ltd »
  2. Maharashtra »
  3. kolhapur »
  4. ingali »
  5. ingali

Find MICR Codes for Ratnakar Bank

MICR Code: -NA-
Bank: Ratnakar Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Ingali
Contact: 0230-2359079
Bank Details: Ratnakar Bank Ltd Ingali RATN0000017
Location: Ingali, Kolhapur
City: Ingali
District: Kolhapur
State: Maharashtra
Pincode: 416202
Country: IN
Address: 446, a/p: ingali-416 202. Tal.hatkanangale, dist. Kolhapur.

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

A total of 1 branches of Ratnakar Bank Ltd are available with micr code

>>Ingali

MICR code for Ratnakar Bank

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

Use of Ratnakar Bank MICR code for branch in ingali

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