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South Indian Bank Ratnagiri Ratnagiri Maharashtra MICR CODE

Find MICR Codes for South Indian Bank Ratnagiri Ratnagiri Maharashtra

MICR Code
Bank South Indian Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Ratnagiri
Contact 0484-2365657, Br0812@sib.Co.In
Bank Details South Indian Bank Ratnagiri SIBL0000812
Location Ratnagiri, Ratnagiri
City Ratnagiri
District Ratnagiri
State Maharashtra
Pincode 415612
Country IN
Address Ground floor, infinity plaza, siddhivinayak nagar, shivaji nagar, kolhapur ratnagiri highway, ratnagiri-415612
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 0 for Ratnagiri 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 0 of South Indian Bank, Ratnagiri branch makes the system almost error free and faster. Use of South Indian Bank MICR codes for Ratnagiri 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 -

>>Ratnagiri

MICR code for South Indian Bank Ratnagiri

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 Ratnagiri 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. 0 is the MICR code of South Indian Bank for Ratnagiri branch. MICR code for Ratnagiri 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 Ratnagiri is presented in the table alongside.

Use of South Indian Bank MICR code for Ratnagiri branch in ratnagiri

The MICR code 0 is used in RBI cheque clearing process to identify the branch Ratnagiri 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.