Bank Of India Banspal Keonjhar Orissa MICR CODE

Find MICR Codes for Bank Of India Banspal Keonjhar Orissa

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MICR Code	-NA-
Bank	Bank Of India
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Banspal
Contact	Br Mgr 919439010911,Br Mgr 9937765714
Bank Details	Bank Of India Banspal BKID0005439

Location	Banspal, Keonjhar
City	Banspal
District	Keonjhar
State	Orissa
Pincode	758018
Country	IN
Address	At po banspal distkeonjhar stateodisha pin 758018

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 0 for Banspal 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 0 of BOI, Banspal branch makes the system almost error free and faster. Use of BOI MICR codes for Banspal branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Bank Of India are available with micr code -

>>Banspal

MICR code for Bank Of India Banspal

Bank Of India MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. BOI MICR code for Banspal 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. 0 is the MICR code of Bank Of India for Banspal branch. MICR code for Banspal 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 BOI Banspal is presented in the table alongside.

Use of BOI MICR code for Banspal branch in banspal

The MICR code 0 is used in RBI cheque clearing process to identify the branch Banspal and BOI 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 Bank Of India is typically in either of these two font’s: E-138 and CMC-7.

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