SBI Raichur Raichur Karnataka MICR CODE

Find MICR Codes for SBI Raichur Raichur Karnataka

MICR Code
Bank State Bank Of India
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Gunj Circle Raichur
Contact Nil
Bank Details State Bank Of India Gunj Circle Raichur SBIN0011281
Location Raichur, Raichur
City Raichur
District Raichur
State Karnataka
Pincode 584101
Country IN
Address Dist raichurstate karnataka
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 584002481 for Gunj Circle Raichur 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 584002481 of State Bank Of India, Gunj Circle Raichur branch makes the system almost error free and faster. Use of State Bank Of India MICR codes for Gunj Circle Raichur branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for SBI Gunj Circle Raichur

SBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. State Bank Of India MICR code for Gunj Circle Raichur 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. 584002481 is the MICR code of SBI Bank for Gunj Circle Raichur branch. MICR code for Gunj Circle Raichur 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 State Bank Of India Gunj Circle Raichur is presented in the table alongside.

Use of State Bank Of India MICR code for Gunj Circle Raichur branch in raichur

The MICR code 584002481 is used in RBI cheque clearing process to identify the branch Gunj Circle Raichur and State 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 SBI Bank is typically in either of these two font’s: E-138 and CMC-7.

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