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Abhyudaya Bank Nanded Nanded Maharashtra MICR CODE

Find MICR Codes for Abhyudaya Bank Nanded Nanded Maharashtra

Bank Abhyudaya Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Samrat Nagar Nanded
Contact 24140961-64
Bank Details Abhyudaya Co-Op Bank Ltd Samrat Nagar Nanded ABHY0065123
Location Nanded, Nanded
City Nanded
District Nanded
State Maharashtra
Pincode 431602
Country IN
Address Plot no. 10, 11, 12(d), the nanded town market area, samrat nagar, near annabhau sathe chowk, nanded - 431 602.
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 431065103 for Samrat Nagar Nanded 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 431065103 of Abhyudaya Co-Op Bank, Samrat Nagar Nanded branch makes the system almost error free and faster. Use of Abhyudaya Co-Op Bank MICR codes for Samrat Nagar Nanded branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Abhyudaya Co-Op Bank Ltd are available with micr code -

>>Ashok Nagar Nanded >>Samrat Nagar Nanded

MICR code for Abhyudaya Bank Samrat Nagar Nanded

Abhyudaya Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Abhyudaya Co-Op Bank MICR code for Samrat Nagar Nanded 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. 431065103 is the MICR code of Abhyudaya Co-Operative Bank for Samrat Nagar Nanded branch. MICR code for Samrat Nagar Nanded 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 Abhyudaya Co-Op Bank Samrat Nagar Nanded is presented in the table alongside.

Use of Abhyudaya Co-Op Bank MICR code for Samrat Nagar Nanded branch in nanded

The MICR code 431065103 is used in RBI cheque clearing process to identify the branch Samrat Nagar Nanded and Abhyudaya Co-Op 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 Abhyudaya Co-Operative Bank is typically in either of these two font’s: E-138 and CMC-7.