Bank Of Baroda Panaji North Goa Goa MICR CODE

Find MICR Codes for Bank Of Baroda Panaji North Goa Goa

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MICR Code	403012002
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	Panaji Branch
Contact	0832-2435016/17
Bank Details	Bank Of Baroda Panaji Branch BARB0PANAJI

Location	Panaji, North Goa
City	Panaji
District	North Goa
State	Goa
Pincode	403006
Country	IN
Address	Opp azad maidan gcci bldg panaji 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 403012002 for Panaji Branch 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 403012002 of Baroda Bank, Panaji Branch branch makes the system almost error free and faster. Use of Baroda Bank MICR codes for Panaji Branch branch, makes the characters readable even if there are other marks and stamps on it.

A total of 4 branches of Bank Of Baroda are available with micr code -

>>Marcela >>Panaji Branch >>Panaji Goa >>Taleigao Panaji

MICR code for Bank Of Baroda Panaji Branch

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 Panaji Branch 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. 403012002 is the MICR code of BOB for Panaji Branch branch. MICR code for Panaji Branch 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 Panaji Branch is presented in the table alongside.

Use of Baroda Bank MICR code for Panaji Branch branch in panaji

The MICR code 403012002 is used in RBI cheque clearing process to identify the branch Panaji Branch 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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