Bank Of Maharashtra Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for Bank Of Maharashtra Panvel Raigad Maharashtra

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MICR Code	400014299
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	Ulawe
Contact	9730172996
Bank Details	Bank Of Maharashtra Ulawe MAHB0001674

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410206
Country	IN
Address	Shop no 5/ 6,prathamesh pride,sector 19, ulawe, tal panvel dist raigad

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 400014299 for Ulawe 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 400014299 of Maharashtra Bank, Ulawe branch makes the system almost error free and faster. Use of Maharashtra Bank MICR codes for Ulawe branch, makes the characters readable even if there are other marks and stamps on it.

A total of 4 branches of Bank Of Maharashtra are available with micr code -

>>New Panvel >>Panvel >>Ulawe >>Uran (Raigad)

MICR code for Bank Of Maharashtra Ulawe

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 Ulawe 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. 400014299 is the MICR code of Mahabank for Ulawe branch. MICR code for Ulawe 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 Ulawe is presented in the table alongside.

Use of Maharashtra Bank MICR code for Ulawe branch in panvel

The MICR code 400014299 is used in RBI cheque clearing process to identify the branch Ulawe 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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