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Allahabad Bank Panaji North Goa Goa MICR CODE

Find MICR Codes for Allahabad Bank Panaji North Goa Goa

MICR Code:
Bank: Allahabad Bank
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Panji
Contact: S Sridhar
Bank Details: Allahabad Bank Panji ALLA0212394
Location: Panaji, North Goa
City: Panaji
District: North Goa
State: Goa
Pincode: 403006
Country: IN
Address: Panjim,goa
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 Panji 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 Allahabad Bank, Panji branch makes the system almost error free and faster. Use of Allahabad Bank MICR codes for Panji branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Allahabad Bank are available with micr code -

>>Panji

MICR code for Allahabad Bank Panji

Allahabad Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Allahabad Bank MICR code for Panji 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 Allahabad Bank for Panji branch. MICR code for Panji 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 Allahabad Bank Panji is presented in the table alongside.

Use of Allahabad Bank MICR code for Panji branch in panaji

The MICR code 0 is used in RBI cheque clearing process to identify the branch Panji and Allahabad 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 Allahabad Bank is typically in either of these two font’s: E-138 and CMC-7.