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SBI Medak Medak Andhra Pradesh MICR CODE

Find MICR Codes for SBI Medak Medak Andhra Pradesh

MICR Code
Bank State Bank Of India
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Nizampet
Contact Ip 990485, 08456-289830
Bank Details State Bank Of India Nizampet SBIN0006631
Location Medak, Medak
City Medak
District Medak
State Andhra Pradesh
Pincode 502371
Country IN
Address Narayankhed taluq, distt medak, a p 502371
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 502002971 for Nizampet 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 502002971 of State Bank Of India, Nizampet branch makes the system almost error free and faster. Use of State Bank Of India MICR codes for Nizampet branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for SBI Nizampet

SBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. State Bank Of India MICR code for Nizampet 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. 502002971 is the MICR code of SBI Bank for Nizampet branch. MICR code for Nizampet 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 State Bank Of India Nizampet is presented in the table alongside.

Use of State Bank Of India MICR code for Nizampet branch in medak

The MICR code 502002971 is used in RBI cheque clearing process to identify the branch Nizampet and State Bank Of India 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 SBI Bank is typically in either of these two font’s: E-138 and CMC-7.