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IDBI Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for IDBI Mumbai Mumbai Maharashtra

MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Nariman Point
Contact 022-2824057,65
Bank Details Idbi Bank Ltd Nariman Point IBKL0000004
Location Mumbai, Mumbai
City Mumbai
District Mumbai
State Maharashtra
Pincode 400021
Country IN
Address Mittal tower, 'c' wing,gr.floor,nariman point,
MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Nariman Point
Contact 22880343
Bank Details Idbi Bank Ltd Nariman Point IBKL0100AC4
Location Mumbai, Mumbai
City Mumbai
District Mumbai
State Maharashtra
Pincode 400021
Country IN
Address Air india bldg,2nd floor,nariman point,mumbai 400021
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 400259002 for Nariman Point 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 400259002 of IDBI Bank, Nariman Point branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Nariman Point branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for IDBI Nariman Point

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Nariman Point 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. 400259002 is the MICR code of IDBI for Nariman Point branch. MICR code for Nariman Point 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 IDBI Bank Nariman Point is presented in the table alongside.

Use of IDBI Bank MICR code for Nariman Point branch in mumbai

The MICR code 400259002 is used in RBI cheque clearing process to identify the branch Nariman Point and IDBI 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 IDBI is typically in either of these two font’s: E-138 and CMC-7.