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Small Industries Development Bank Of India Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for Small Industries Development Bank Of India Mumbai Mumbai Maharashtra

MICR Code:
Bank: Small Industries Development Bank of India
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Rtgsho
Contact: 67531299
Bank Details: Small Industries Development Bank of India Rtgsho SIDB0000001
Location: Mumbai, Mumbai
City: Mumbai
District: Mumbai
State: Maharashtra
Pincode: 400013
Country: IN
Address: Msme development centre, plot no.c-11, g-block, bandra kurla complex, bandra east, mumbai-400051
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 0 for Rtgsho 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 0 of SIDBI, Rtgsho branch makes the system almost error free and faster. Use of SIDBI MICR codes for Rtgsho branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Small Industries Development Bank of India are available with micr code -

>>Rtgsho >>Service Center

MICR code for Small Industries Development Bank Of India Rtgsho

Small Industries Development Bank Of India MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. SIDBI MICR code for Rtgsho 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. 0 is the MICR code of Small Industries Development Bank Of India for Rtgsho branch. MICR code for Rtgsho 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 SIDBI Rtgsho is presented in the table alongside.

Use of SIDBI MICR code for Rtgsho branch in mumbai

The MICR code 0 is used in RBI cheque clearing process to identify the branch Rtgsho and SIDBI 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 Small Industries Development Bank Of India is typically in either of these two font’s: E-138 and CMC-7.