Axis Bank Pen Raigad Maharashtra MICR CODE

Find MICR Codes for Axis Bank Pen Raigad Maharashtra

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MICR Code	402211999
Bank	Axis Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Pen
Contact	02143) 252366 (D)/ 76
Bank Details	Axis Bank Pen UTIB0000774

Location	Pen, Raigad
City	Pen
District	Raigad
State	Maharashtra
Pincode	402107
Country	IN
Address	Ground floor, centre point chinchpada, pen dist. Raigad, pin 402107 maharashtra

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 402211999 for Pen 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 402211999 of Axis Bank, Pen branch makes the system almost error free and faster. Use of Axis Bank MICR codes for Pen 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 -

>>Pen

MICR code for Axis Bank Pen

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 Pen 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. 402211999 is the MICR code of Axis Bank for Pen branch. MICR code for Pen 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 Pen is presented in the table alongside.

Use of Axis Bank MICR code for Pen branch in pen

The MICR code 402211999 is used in RBI cheque clearing process to identify the branch Pen 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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