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Cosmos Bank Nipani Belgaum Karnataka MICR CODE

Find MICR Codes for Cosmos Bank Nipani Belgaum Karnataka

MICR Code:
Bank: Cosmos Co-Op Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Nipani
Contact: 08338-223594, 9011070097
Bank Details: Cosmos Co-Op Bank Ltd Nipani COSB0000081
Location: Nipani, Belgaum
City: Nipani
District: Belgaum
State: Karnataka
Pincode: 591237
Country: IN
Address: H.no.739 ashok nagar, nipani. Pin code no.591 237, tal. Chikodi, dist. Belgaum
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 Nipani 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 Cosmos Cooperative Bank, Nipani branch makes the system almost error free and faster. Use of Cosmos Cooperative Bank MICR codes for Nipani branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Cosmos Co-Op Bank Ltd are available with micr code -

>>Nipani

MICR code for Cosmos Bank Nipani

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

Use of Cosmos Cooperative Bank MICR code for Nipani branch in nipani

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