Cosmos Bank gokhale nagar MICR codes are given in the table alongside. Details including address and contact numbers are also provided. From Cosmos Bank MICR codes list for gokhale nagar, one can further search by branch name specified in the table. You can find MICR codes for all Cosmos Bank gokhale nagar branches.
Cosmos Bank MICR code is a character recognition technology used by banks in the processing of cheques. Cosmos Bank MICR code for gokhale nagar branches includes document type indicator, bank code, cheque number, etc. This code is printed in either of the two fonts E-138 and CMC-7 using a magnetic ink or toner, usually containing iron oxide. The MICR code for Cosmos Cooperative Bank branches in gokhale nagar, is used to identify the bank branch to which the cheque belongs. It is used by RBI for clearance of cheques.
In manual clearing of cheques, there is a possibility of many errors and a long delay is involved. The characters of MICR code for a Cosmos Bank gokhale nagar branch, sprinted 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. Thus MICR code for Cosmos Bank gokhale nagar branches speeds up the processing of cheque as it reduces manual effort of sorting. Use of Cosmos Cooperative Bank MICR codes for gokhale nagar branches, makes the characters readable even if there are other marks and stamps on it. This makes the system almost error proof!