Bank Of Maharashtra Phaltan Satara Maharashtra MICR CODE

Find MICR Codes for Bank Of Maharashtra Phaltan Satara Maharashtra

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MICR Code	-NA-
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	Phaltan
Contact	Kulkarni C Gm Kulkarni C G 02166-221536 Bom255@mahabank.Co.In
Bank Details	Bank Of Maharashtra Phaltan MAHB0000255

Location	Phaltan, Satara
City	Phaltan
District	Satara
State	Maharashtra
Pincode	415523
Country	IN
Address	Sawta maharaj trust bldg nana patil chowk phaltan

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 Phaltan 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, Phaltan branch makes the system almost error free and faster. Use of Maharashtra Bank MICR codes for Phaltan branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Bank Of Maharashtra are available with micr code -

>>Kolki >>Phaltan

MICR code for Bank Of Maharashtra Phaltan

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

Use of Maharashtra Bank MICR code for Phaltan branch in phaltan

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