Corporation Bank Kolhapur Kolhapur Maharashtra MICR CODE

Find MICR Codes for Corporation Bank Kolhapur Kolhapur Maharashtra

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MICR Code
Bank Corporation Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Latwade
Contact 2480100
Bank Details Corporation Bank Latwade CORP0003120
Location Kolhapur, Kolhapur
City Kolhapur
District Kolhapur
State Maharashtra
Pincode 416112
Country IN
Address 156,near gram panchayat latwade hatkangale tale taluk kolhapur district-416112 maharashtra
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 Latwade 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 Corp Bank, Latwade branch makes the system almost error free and faster. Use of Corp Bank MICR codes for Latwade branch, makes the characters readable even if there are other marks and stamps on it.

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

>>Kolhapur >>Kolhapur Tarabai Park >>Latwade >>Wadange

MICR code for Corporation Bank Latwade

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

Use of Corp Bank MICR code for Latwade branch in kolhapur

The MICR code 0 is used in RBI cheque clearing process to identify the branch Latwade and Corp 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 Corporation Bank is typically in either of these two font’s: E-138 and CMC-7.

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