Bank Of India Kagal Kolhapur Maharashtra MICR CODE

Find MICR Codes for Bank Of India Kagal Kolhapur Maharashtra

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MICR Code	416804523
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	Kagal
Contact	2325-2325244040
Bank Details	Bank Of India Kagal BKID0VG3045

Location	Kagal, Kolhapur
City	Kagal
District	Kolhapur
State	Maharashtra
Pincode	416216
Country	IN
Address	Nagar parishad building, 1st floor bus stand shejari a p kagal, tal kagal, dist kolhapur pin code 416216

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 416804523 for Kagal 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 416804523 of BOI, Kagal branch makes the system almost error free and faster. Use of BOI MICR codes for Kagal branch, makes the characters readable even if there are other marks and stamps on it.

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

>>5 Star Midc >>Kagal

MICR code for Bank Of India Kagal

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 Kagal 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. 416804523 is the MICR code of Bank Of India for Kagal branch. MICR code for Kagal 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 Kagal is presented in the table alongside.

Use of BOI MICR code for Kagal branch in kagal

The MICR code 416804523 is used in RBI cheque clearing process to identify the branch Kagal 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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