Central Bank Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for Central Bank Panvel Raigad Maharashtra

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MICR Code	400016095
Bank	Central Bank Of India
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	New Panvel
Contact
Bank Details	Central Bank Of India New Panvel CBIN0283347

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410206
Country	IN
Address	Indra angan housing society, 1st floor, plot no.2, sector 9, khanda colony chowk

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 400016095 for New Panvel 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 400016095 of Central Bank Of India, New Panvel branch makes the system almost error free and faster. Use of Central Bank Of India MICR codes for New Panvel branch, makes the characters readable even if there are other marks and stamps on it.

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

>>Actrec Mumbai >>Kewale >>New Panvel >>T.M.C. Actrec Mumbai

MICR code for Central Bank New Panvel

Central Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Central Bank Of India MICR code for New Panvel 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. 400016095 is the MICR code of Central Bank India for New Panvel branch. MICR code for New Panvel 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 Central Bank Of India New Panvel is presented in the table alongside.

Use of Central Bank Of India MICR code for New Panvel branch in panvel

The MICR code 400016095 is used in RBI cheque clearing process to identify the branch New Panvel and Central Bank Of India 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 Central Bank India is typically in either of these two font’s: E-138 and CMC-7.

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