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South Indian Bank Kolahpur Kolhapur Maharashtra MICR CODE

Find MICR Codes for South Indian Bank Kolahpur Kolhapur Maharashtra

Bank
State
District
City
Branch
Address

MICR Code	416059002
Bank	South Indian Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Kolahpur
Contact	Joy P.V., Manager 0240 2481128
Bank Details	South Indian Bank Kolahpur SIBL0000520

Location	Kolahpur, Kolhapur
City	Kolahpur
District	Kolhapur
State	Maharashtra
Pincode	416002
Country	IN
Address	1426-a, cward g/1 lakshmi tower konda line, lakshmi puri, kolahpur - 416002

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 416059002 for Kolahpur 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 416059002 of South Indian Bank, Kolahpur branch makes the system almost error free and faster. Use of South Indian Bank MICR codes for Kolahpur 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 -

>>Kolahpur

MICR code for South Indian Bank Kolahpur

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 Kolahpur 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. 416059002 is the MICR code of South Indian Bank for Kolahpur branch. MICR code for Kolahpur 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 Kolahpur is presented in the table alongside.

Use of South Indian Bank MICR code for Kolahpur branch in kolahpur

The MICR code 416059002 is used in RBI cheque clearing process to identify the branch Kolahpur 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.