Bank Of India Palgad Ratnagiri Maharashtra MICR CODE

Find MICR Codes for Bank Of India Palgad 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	Palgad
Contact	Suhas D Dinde,Mobile-9421232833
Bank Details	Bank Of India Palgad BKID0001422

Location	Palgad, Ratnagiri
City	Palgad
District	Ratnagiri
State	Maharashtra
Pincode	415716
Country	IN
Address	At & post palgad, gondhalekar building, tal-dapoli, dist-ratnagiri, pin-415716

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

>>Palgad

MICR code for Bank Of India Palgad

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

Use of BOI MICR code for Palgad branch in palgad

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