Axis Bank Medchalmalkajgiri Hyderabad Telangana MICR CODE

Find MICR Codes for Axis Bank Medchalmalkajgiri Hyderabad Telangana

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MICR Code
Bank Axis Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Old Alwal
Contact 40-9908155403
Bank Details Axis Bank Old Alwal UTIB0005887
Location Medchalmalkajgiri, Hyderabad
City Medchalmalkajgiri
District Hyderabad
State Telangana
Pincode 500083
Country IN
Address Ground floor, door no 8 59 1, dammaiguda cross road, dammaiguda, hyderabad 500083
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 Old Alwal 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, Old Alwal branch makes the system almost error free and faster. Use of Axis Bank MICR codes for Old Alwal branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Axis Bank are available with micr code -

>>Old Alwal

MICR code for Axis Bank Old Alwal

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 Old Alwal 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 Old Alwal branch. MICR code for Old Alwal 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 Old Alwal is presented in the table alongside.

Use of Axis Bank MICR code for Old Alwal branch in medchalmalkajgiri

The MICR code 0 is used in RBI cheque clearing process to identify the branch Old Alwal 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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