Bank Of India Panagar Jabalpur Madhya Pradesh MICR CODE

Find MICR Codes for Bank Of India Panagar Jabalpur Madhya Pradesh

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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	Panagar
Contact	Harish Kumar Gambhir, Branch Manager. 07612350034, 09977001345
Bank Details	Bank Of India Panagar BKID0009411

Location	Panagar, Jabalpur
City	Panagar
District	Jabalpur
State	Madhya Pradesh
Pincode	483220
Country	IN
Address	Main road, near kamania gate, panagar, dist jabalpur, mp, 483220

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

>>Panagar

MICR code for Bank Of India Panagar

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

Use of BOI MICR code for Panagar branch in panagar

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