MICR Code Bank
Find MICR code for Canara Bank branches in India for NEFT and RTGS transfer

Canara Bank MICR CODE

Find MICR Codes for Canara Bank

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  1. Canara Bank »
  2. Goa »
  3. north goa »
  4. panaji »
  5. arm panaji

Find MICR Codes for Canara Bank

MICR Code: -NA-
Bank: Canara Bank
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Arm Panaji
Contact: Cb5103@canarabank.Com
Bank Details: Canara Bank Arm Panaji CNRB0005103
Location: Panaji, North Goa
City: Panaji
District: North Goa
State: Goa
Pincode: 403001
Country: IN
Address: Mathias plaza 18th june road panaji goa 403001

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

MICR code for Canara Bank

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

Use of Canara Bank MICR code for branch in panaji

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