Bank Of Baroda Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for Bank Of Baroda Panvel Raigad Maharashtra

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MICR Code	400012181
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	New Panvel
Contact	022-27465415
Bank Details	Bank Of Baroda New Panvel BARB0NEWPAN

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410206
Country	IN
Address	Shop no. 25to28,shree ji sangh chs,near shree krupa hall,sector 7 khanda colony,new panvel,raigad dt.,maharashtra – 410206.

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 400012181 for New 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 400012181 of Baroda Bank, New Panvel branch makes the system almost error free and faster. Use of Baroda Bank MICR codes for New Panvel branch, makes the characters readable even if there are other marks and stamps on it.

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

>>Kharghar Navi Mumbai Taluk Panvel >>New Panvel >>Panvel Branch

MICR code for Bank Of Baroda New Panvel

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 New 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. 400012181 is the MICR code of BOB for New Panvel branch. MICR code for New 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 Baroda Bank New Panvel is presented in the table alongside.

Use of Baroda Bank MICR code for New Panvel branch in panvel

The MICR code 400012181 is used in RBI cheque clearing process to identify the branch New Panvel 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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