Bank Of India Ranchi Ranchi Jharkhand MICR CODE

Find MICR Codes for Bank Of India Ranchi Ranchi Jharkhand

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MICR Code
Bank Bank Of India
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Ranchi Corporate
Contact Vincent Lakra Mob.-9431082456
Bank Details Bank Of India Ranchi Corporate BKID0004995
Location Ranchi, Ranchi
City Ranchi
District Ranchi
State Jharkhand
Pincode 834012
Country IN
Address At- harmu,near sahjanand chowk,birsa raj marg (vip road),po-harmu colony,ranchi-pin-834012
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 Ranchi Corporate 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, Ranchi Corporate branch makes the system almost error free and faster. Use of BOI MICR codes for Ranchi Corporate branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Bank Of India Ranchi Corporate

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 Ranchi Corporate 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 Ranchi Corporate branch. MICR code for Ranchi Corporate 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 Ranchi Corporate is presented in the table alongside.

Use of BOI MICR code for Ranchi Corporate branch in ranchi

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