Bank Of India Kolaras Shivpuri Madhya Pradesh MICR CODE

Find MICR Codes for Bank Of India Kolaras Shivpuri Madhya Pradesh

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MICR Code	473013503
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	Kolaras
Contact
Bank Details	Bank Of India Kolaras BKID0008881

Location	Kolaras, Shivpuri
City	Kolaras
District	Shivpuri
State	Madhya Pradesh
Pincode	473770
Country	IN
Address	A b road kolaras dist shivpuri m ppin 473770

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 473013503 for Kolaras 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 473013503 of BOI, Kolaras branch makes the system almost error free and faster. Use of BOI MICR codes for Kolaras 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 -

>>Kolaras

MICR code for Bank Of India Kolaras

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 Kolaras 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. 473013503 is the MICR code of Bank Of India for Kolaras branch. MICR code for Kolaras 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 Kolaras is presented in the table alongside.

Use of BOI MICR code for Kolaras branch in kolaras

The MICR code 473013503 is used in RBI cheque clearing process to identify the branch Kolaras 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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