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South Indian Bank Nagpur Aurangabad Maharashtra MICR CODE

Find MICR Codes for South Indian Bank Nagpur Aurangabad Maharashtra

MICR Code
Bank South Indian Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Aurangabad
Contact Leo Job, Manager 04931-245949
Bank Details South Indian Bank Aurangabad SIBL0000519
Location Nagpur, Aurangabad
City Nagpur
District Aurangabad
State Maharashtra
Pincode 431001
Country IN
Address Shop no. 201, akshaydeep plaza, town centre cidco aurangabad - 4310003
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 431059003 for Aurangabad 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 431059003 of South Indian Bank, Aurangabad branch makes the system almost error free and faster. Use of South Indian Bank MICR codes for Aurangabad branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of South Indian Bank are available with micr code -

>>Aurangabad

MICR code for South Indian Bank Aurangabad

South Indian Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. South Indian Bank MICR code for Aurangabad 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. 431059003 is the MICR code of South Indian Bank for Aurangabad branch. MICR code for Aurangabad 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 South Indian Bank Aurangabad is presented in the table alongside.

Use of South Indian Bank MICR code for Aurangabad branch in nagpur

The MICR code 431059003 is used in RBI cheque clearing process to identify the branch Aurangabad and South Indian 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 South Indian Bank is typically in either of these two font’s: E-138 and CMC-7.