Axis Bank Pune Pune Maharashtra MICR CODE

Find MICR Codes for Axis Bank Pune Pune Maharashtra

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MICR Code
Bank Axis Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Nibm Annexe
Contact 20-7020826634
Bank Details Axis Bank Nibm Annexe UTIB0004915
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode
Country IN
Address Ground floor and mezzanine floor, shop no 008 and 009, vistas center point, survey no 37/3 and 4, nibm annexe, mohammadwadi
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 0 for Nibm Annexe 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 0 of Axis Bank, Nibm Annexe branch makes the system almost error free and faster. Use of Axis Bank MICR codes for Nibm Annexe branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Axis Bank Nibm Annexe

Axis Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Axis Bank MICR code for Nibm Annexe 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. 0 is the MICR code of Axis Bank for Nibm Annexe branch. MICR code for Nibm Annexe 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 Axis Bank Nibm Annexe is presented in the table alongside.

Use of Axis Bank MICR code for Nibm Annexe branch in pune

The MICR code 0 is used in RBI cheque clearing process to identify the branch Nibm Annexe and Axis 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 Axis Bank is typically in either of these two font’s: E-138 and CMC-7.

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