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

Shinhan Bank MICR CODE

Find MICR Codes for Shinhan Bank

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  5. mumbai branch

Find MICR Codes for Shinhan Bank

MICR Code: -NA-
Bank: Shinhan Bank
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Mumbai Branch
Contact: 22-61992000
Bank Details: Shinhan Bank Mumbai Branch SHBK0000002
Location: Mumbai, Mumbai
City: Mumbai
District: Mumbai
State: Maharashtra
Pincode: 400013
Country: IN
Address: Peninsula corporate park, 701,702, tower 1, ganpatrao kadam marg, lower parel, mumbai 400013

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

A total of 2 branches of Shinhan Bank are available with micr code

>>Mumbai Branch >>Rtgs Ho

MICR code for Shinhan Bank

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

Use of Shinhan Bank MICR code for branch in mumbai

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