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Ratnakar Bank Kolhapur Kolhapur Maharashtra MICR CODE

Find MICR Codes for Ratnakar Bank Kolhapur Kolhapur Maharashtra

Bank
State
District
City
Branch
Address

MICR Code	416176003
Bank	Ratnakar Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Laxmipuri Kolhapur
Contact	0231-2644749
Bank Details	Ratnakar Bank Ltd Laxmipuri Kolhapur RATN0000002

Location	Kolhapur, Kolhapur
City	Kolhapur
District	Kolhapur
State	Maharashtra
Pincode	416002
Country	IN
Address	Near kolhapur muncipal coporation, laxmi road, laxmipuri, kolhapur 416002

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 416176003 for Laxmipuri Kolhapur 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 416176003 of Ratnakar Bank, Laxmipuri Kolhapur branch makes the system almost error free and faster. Use of Ratnakar Bank MICR codes for Laxmipuri Kolhapur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 6 branches of Ratnakar Bank Ltd are available with micr code -

>>Head Office >>Laxmipuri Kolhapur >>Marketyard Kolhapur >>Rajarampuri Kolhapur >>Saneguruji Vasahat >>Shahupuri Kolhapur

MICR code for Ratnakar Bank Laxmipuri Kolhapur

Ratnakar Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Ratnakar Bank MICR code for Laxmipuri Kolhapur 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. 416176003 is the MICR code of Ratnakar Bank for Laxmipuri Kolhapur branch. MICR code for Laxmipuri Kolhapur 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 Ratnakar Bank Laxmipuri Kolhapur is presented in the table alongside.

Use of Ratnakar Bank MICR code for Laxmipuri Kolhapur branch in kolhapur

The MICR code 416176003 is used in RBI cheque clearing process to identify the branch Laxmipuri Kolhapur and Ratnakar 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 Ratnakar Bank is typically in either of these two font’s: E-138 and CMC-7.