Bank Of India Khed Ratnagiri Maharashtra MICR CODE

Find MICR Codes for Bank Of India Khed Ratnagiri Maharashtra

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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	Furus
Contact	Bhise
Bank Details	Bank Of India Furus BKID0001474

Location	Khed, Ratnagiri
City	Khed
District	Ratnagiri
State	Maharashtra
Pincode	415722
Country	IN
Address	A/p furus(amshet),tal:khed,dist. Ratnagiri

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

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

>>Furus >>Khed >>Khed

MICR code for Bank Of India Furus

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 Furus 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 Furus branch. MICR code for Furus 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 Furus is presented in the table alongside.

Use of BOI MICR code for Furus branch in khed

The MICR code 0 is used in RBI cheque clearing process to identify the branch Furus 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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