Bank Of India Shahpur Palamau Jharkhand MICR CODE

Find MICR Codes for Bank Of India Shahpur Palamau 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	Shahpur
Contact	Br Mgr 9470959767
Bank Details	Bank Of India Shahpur BKID0005897

Location	Shahpur, Palamau
City	Shahpur
District	Palamau
State	Jharkhand
Pincode	822110
Country	IN
Address	Bank of india shahpur branch near - shahpur at & post shahpur dist. Palamau jharkhand - 822110

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

>>Shahpur

MICR code for Bank Of India Shahpur

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

Use of BOI MICR code for Shahpur branch in shahpur

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