Axis Bank Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for Axis Bank Panvel Raigad Maharashtra

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MICR Code	400211009
Bank	Axis Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Panvel
Contact	410206
Bank Details	Axis Bank Panvel UTIB0000036

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410206
Country	IN
Address	Raje complex, plot no 198a shivaji chowk,

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 400211009 for Panvel 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 400211009 of Axis Bank, Panvel branch makes the system almost error free and faster. Use of Axis Bank MICR codes for Panvel branch, makes the characters readable even if there are other marks and stamps on it.

A total of 3 branches of Axis Bank are available with micr code -

>>New Panvel (Maharashtra) >>Panvel >>Sector Fourteen Taloja

MICR code for Axis Bank Panvel

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 Panvel 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. 400211009 is the MICR code of Axis Bank for Panvel branch. MICR code for Panvel 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 Panvel is presented in the table alongside.

Use of Axis Bank MICR code for Panvel branch in panvel

The MICR code 400211009 is used in RBI cheque clearing process to identify the branch Panvel 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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