Bank Of Baroda Margoa South Goa Goa MICR CODE

Find MICR Codes for Bank Of Baroda Margoa South Goa Goa

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MICR Code	403012021
Bank	Bank Of Baroda
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Navelim Margao
Contact	0832-2728203
Bank Details	Bank Of Baroda Navelim Margao BARB0NAVELI

Location	Margoa, South Goa
City	Margoa
District	South Goa
State	Goa
Pincode	403707
Country	IN
Address	Near church, p.o.navelim, salcete, goa.

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 403012021 for Navelim Margao 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 403012021 of Baroda Bank, Navelim Margao branch makes the system almost error free and faster. Use of Baroda Bank MICR codes for Navelim Margao branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Bank Of Baroda are available with micr code -

>>Majorda Majorda >>Navelim Margao

MICR code for Bank Of Baroda Navelim Margao

Bank Of Baroda MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Baroda Bank MICR code for Navelim Margao 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. 403012021 is the MICR code of BOB for Navelim Margao branch. MICR code for Navelim Margao 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 Baroda Bank Navelim Margao is presented in the table alongside.

Use of Baroda Bank MICR code for Navelim Margao branch in margoa

The MICR code 403012021 is used in RBI cheque clearing process to identify the branch Navelim Margao and Baroda 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 BOB is typically in either of these two font’s: E-138 and CMC-7.

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