MICR Code Bank
Find MICR code for Lakshmi Vilas Bank branches in India for NEFT and RTGS transfer

Lakshmi Vilas Bank MICR CODE

Find MICR Codes for Lakshmi Vilas Bank

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  1. Lakshmi Vilas Bank Ltd »
  2. Karnataka »
  3. bangalore urban »
  4. bangalore »
  5. city market bangalore

Find MICR Codes for Lakshmi Vilas Bank

MICR Code: 560056003
Bank: Lakshmi Vilas Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: City Market Bangalore
Contact: 080 - 22226917
Bank Details: Lakshmi Vilas Bank Ltd City Market Bangalore LAVB0000164
Location: Bangalore, Bangalore Urban
City: Bangalore
District: Bangalore Urban
State: Karnataka
Pincode: 560002
Country: IN
Address: 1091, otc road nagarathpet, city market bangalore - 560 002 karnataka

How does MICR code for 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 of LV Bank, branch makes the system almost error free and faster. Use of LV Bank MICR codes for branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Lakshmi Vilas Bank

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

Use of LV Bank MICR code for branch in bangalore

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