Let Others Know
×
LinkedIn
Email
WhatsApp

Allahabad Bank Ludhiana Raikot Punjab MICR CODE

Find MICR Codes for Allahabad Bank Ludhiana Raikot Punjab

MICR Code
Bank Allahabad Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Raikot
Contact 9417551519
Bank Details Allahabad Bank Raikot ALLA0213459
Location Ludhiana, Raikot
City Ludhiana
District Raikot
State Punjab
Pincode 141109
Country IN
Address Malerkotla highway, near hari singh nalwa chowk, raikot, distt-ludhiana,punjab-141109
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 Raikot 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, Raikot branch makes the system almost error free and faster. Use of Allahabad Bank MICR codes for Raikot 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 -

>>Raikot

MICR code for Allahabad Bank Raikot

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 Raikot 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 Raikot branch. MICR code for Raikot 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 Raikot is presented in the table alongside.

Use of Allahabad Bank MICR code for Raikot branch in ludhiana

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