Let Others Know
×
LinkedIn
Email
WhatsApp

Lakshmi Vilas Bank Chennai Chennai Tamil Nadu MICR CODE

Find MICR Codes for Lakshmi Vilas Bank Chennai Chennai Tamil Nadu

MICR Code
Bank Lakshmi Vilas Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Velachery Chennai
Contact 044 - 22436065
Bank Details Lakshmi Vilas Bank Ltd Velachery Chennai LAVB0000442
Location Chennai, Chennai
City Chennai
District Chennai
State Tamil Nadu
Pincode 600042
Country IN
Address No.37f,velacherry main road,vijaya nagar, velacherry, chennai – 600 042 tamilnadu
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 600056018 for Velachery Chennai 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 600056018 of LV Bank, Velachery Chennai branch makes the system almost error free and faster. Use of LV Bank MICR codes for Velachery Chennai branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Lakshmi Vilas Bank Velachery Chennai

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 Velachery Chennai 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. 600056018 is the MICR code of Lakshmi Vilas Bank for Velachery Chennai branch. MICR code for Velachery Chennai 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 Velachery Chennai is presented in the table alongside.

Use of LV Bank MICR code for Velachery Chennai branch in chennai

The MICR code 600056018 is used in RBI cheque clearing process to identify the branch Velachery Chennai 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.