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

SBI MICR CODE

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  1. State Bank Of India »
  2. Andhra Pradesh »
  3. medak »
  4. medak »
  5. nizampet

Find MICR Codes for SBI

MICR Code: 502002971
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

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

MICR code for SBI

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 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 SBI 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 State Bank Of India is presented in the table alongside.

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

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