Bank Of Maharashtra Gondavale Satara Maharashtra MICR CODE

Find MICR Codes for Bank Of Maharashtra Gondavale Satara Maharashtra

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MICR Code
Bank Bank Of Maharashtra
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Gondavale
Contact 2165-258234
Bank Details Bank Of Maharashtra Gondavale MAHB0000684
Location Gondavale, Satara
City Gondavale
District Satara
State Maharashtra
Pincode 415508
Country IN
Address Hno 126 potdar bldg gondavale bk tal man-satara 415508
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 Gondavale 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 Maharashtra Bank, Gondavale branch makes the system almost error free and faster. Use of Maharashtra Bank MICR codes for Gondavale branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Bank Of Maharashtra are available with micr code -

>>Gondavale

MICR code for Bank Of Maharashtra Gondavale

Bank Of Maharashtra MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Maharashtra Bank MICR code for Gondavale 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 Mahabank for Gondavale branch. MICR code for Gondavale 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 Maharashtra Bank Gondavale is presented in the table alongside.

Use of Maharashtra Bank MICR code for Gondavale branch in gondavale

The MICR code 0 is used in RBI cheque clearing process to identify the branch Gondavale and Maharashtra Bank 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 Mahabank is typically in either of these two font’s: E-138 and CMC-7.

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