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South Indian Bank Mumbai Greater Bombay Maharashtra MICR CODE

Find MICR Codes for South Indian Bank Mumbai Greater Bombay Maharashtra

MICR Code
Bank South Indian Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Mumbai Bandra
Contact Jacob Joseph, Chief Manager 022-26423850
Bank Details South Indian Bank Mumbai Bandra SIBL0000157
Location Mumbai, Greater Bombay
City Mumbai
District Greater Bombay
State Maharashtra
Pincode 400050
Country IN
Address Mumbai bandra branch, 266, linking road,bandra (west) ,mumbai, greater mumbai , maharashtra , pin-400050
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 400059002 for Mumbai Bandra 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 400059002 of South Indian Bank, Mumbai Bandra branch makes the system almost error free and faster. Use of South Indian Bank MICR codes for Mumbai Bandra branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for South Indian Bank Mumbai Bandra

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 Mumbai Bandra 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. 400059002 is the MICR code of South Indian Bank for Mumbai Bandra branch. MICR code for Mumbai Bandra 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 Mumbai Bandra is presented in the table alongside.

Use of South Indian Bank MICR code for Mumbai Bandra branch in mumbai

The MICR code 400059002 is used in RBI cheque clearing process to identify the branch Mumbai Bandra 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.