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South Indian Bank Madikeri Madikeri Karnataka MICR CODE

Find MICR Codes for South Indian Bank Madikeri Madikeri Karnataka

Bank
State
District
City
Branch
Address

MICR Code	571059099
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	Mercara
Contact	Clament P., Manager 08272-229601
Bank Details	South Indian Bank Mercara SIBL0000124

Location	Madikeri, Madikeri
City	Madikeri
District	Madikeri
State	Karnataka
Pincode	571201
Country	IN
Address	Madikkeri (mercara) branch,1st floor ,sree krishna plaza college road ,mercara , kodagu , karnataka , pin-571201

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 571059099 for Mercara 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 571059099 of South Indian Bank, Mercara branch makes the system almost error free and faster. Use of South Indian Bank MICR codes for Mercara 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 -

>>Mercara

MICR code for South Indian Bank Mercara

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 Mercara 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. 571059099 is the MICR code of South Indian Bank for Mercara branch. MICR code for Mercara 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 Mercara is presented in the table alongside.

Use of South Indian Bank MICR code for Mercara branch in madikeri

The MICR code 571059099 is used in RBI cheque clearing process to identify the branch Mercara 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.