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South Indian Bank Margao South Goa Goa MICR CODE

Find MICR Codes for South Indian Bank Margao South Goa Goa

MICR Code
Bank South Indian Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Margao
Contact Ronald Fernandez, Manager 0832-2704303
Bank Details South Indian Bank Margao SIBL0000364
Location Margao, South Goa
City Margao
District South Goa
State Goa
Pincode 403601
Country IN
Address Margao branch,casa dos aliados,next to gomant vidya niketan,abade faria road, south-goa, goa , pin-403601
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.

Search South Indian Bank MICR Codes in south goa

You can search through MICR Codes of Goa branches in margao of District south goa in Goa State by using the search box or you can browse through the table using the conrols at the bottom.

South Indian Bank branches with micr codes are available in 2 cities-

>>Margao >>Mormugao

How to find MICR codes for South Indian Bank in margao?

South Indian Bank margao MICR codes are given in the table alongside. Details including address and contact numbers are also provided. From South Indian Bank MICR codes list for margao, one can further search by branch name specified in the table. You can find MICR codes for all South Indian Bank margao branches.

South Indian Bank MICR code in margao

South Indian Bank MICR code is a character recognition technology used by banks in the processing of cheques. South Indian Bank MICR code for margao branches includes document type indicator, bank code, cheque number, etc. This code is printed in either of the two fonts E-138 and CMC-7 using a magnetic ink or toner, usually containing iron oxide. The MICR code for South Indian Bank branches in margao, is used to identify the bank branch to which the cheque belongs. It is used by RBI for clearance of cheques.

How does South Indian Bank MICR code for margao branches speed up the processing of cheques?

In manual clearing of cheques, there is a possibility of many errors and a long delay is involved. The characters of MICR code for a South Indian Bank margao branch, sprinted 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. Thus MICR code for South Indian Bank margao branches speeds up the processing of cheque as it reduces manual effort of sorting. Use of South Indian Bank MICR codes for margao branches, makes the characters readable even if there are other marks and stamps on it. This makes the system almost error proof!