Bank Of India Otar Paschimi Singhbhum Jharkhand MICR CODE

Find MICR Codes for Bank Of India Otar Paschimi Singhbhum Jharkhand

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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	Otar
Contact
Bank Details	Bank Of India Otar BKID0004545

Location	Otar, Paschimi Singhbhum
City	Otar
District	Paschimi Singhbhum
State	Jharkhand
Pincode	832102
Country	IN
Address	At & po:-otar west singhbhum 832102

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

>>Otar

MICR code for Bank Of India Otar

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

Use of BOI MICR code for Otar branch in otar

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