Bank Of Maharashtra Mangaon Raigad Maharashtra MICR CODE

Find MICR Codes for Bank Of Maharashtra Mangaon Raigad Maharashtra

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MICR Code	402014516
Bank	Bank Of Maharashtra
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Mangaon
Contact	9270655522
Bank Details	Bank Of Maharashtra Mangaon MAHB0001668

Location	Mangaon, Raigad
City	Mangaon
District	Raigad
State	Maharashtra
Pincode	402104
Country	IN
Address	Yashodhan,house no. 342, mumbai goa highway, tal-mangaon, dist raigad - 402104

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 402014516 for Mangaon 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 402014516 of Maharashtra Bank, Mangaon branch makes the system almost error free and faster. Use of Maharashtra Bank MICR codes for Mangaon 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 -

>>Mangaon

MICR code for Bank Of Maharashtra Mangaon

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 Mangaon 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. 402014516 is the MICR code of Mahabank for Mangaon branch. MICR code for Mangaon 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 Mangaon is presented in the table alongside.

Use of Maharashtra Bank MICR code for Mangaon branch in mangaon

The MICR code 402014516 is used in RBI cheque clearing process to identify the branch Mangaon 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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