Canara Bank Balaghat Paraswada Madhya Pradesh MICR CODE

Find MICR Codes for Canara Bank Balaghat Paraswada Madhya Pradesh

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MICR Code	481015506
Bank	Canara Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Paraswada
Contact	0
Bank Details	Canara Bank Paraswada CNRB0017712

Location	Balaghat, Paraswada
City	Balaghat
District	Paraswada
State	Madhya Pradesh
Pincode	481556
Country	IN
Address	Paraswadatehsil baihardist balaghatstate madhya pradeshpin 481 556

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 481015506 for Paraswada 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 481015506 of Canara Bank, Paraswada branch makes the system almost error free and faster. Use of Canara Bank MICR codes for Paraswada branch, makes the characters readable even if there are other marks and stamps on it.

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

>>Paraswada

MICR code for Canara Bank Paraswada

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 Paraswada 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. 481015506 is the MICR code of Canara Bank for Paraswada branch. MICR code for Paraswada 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 Paraswada is presented in the table alongside.

Use of Canara Bank MICR code for Paraswada branch in balaghat

The MICR code 481015506 is used in RBI cheque clearing process to identify the branch Paraswada 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.

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