Corporation Bank Margao South Goa Goa MICR CODE

Find MICR Codes for Corporation Bank Margao South Goa Goa

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MICR Code	403017014
Bank	Corporation Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Margoa
Contact	0832-2732539
Bank Details	Corporation Bank Margoa CORP0000142

Location	Margao, South Goa
City	Margao
District	South Goa
State	Goa
Pincode	403601
Country	IN
Address	1st fl antonio dias bldg near municipal office p b no 188 margao 403601

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 403017014 for Margoa 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 403017014 of Corp Bank, Margoa branch makes the system almost error free and faster. Use of Corp Bank MICR codes for Margoa branch, makes the characters readable even if there are other marks and stamps on it.

A total of 3 branches of Corporation Bank are available with micr code -

>>Goa Margao Vidyanagar >>Margoa >>Zuari Nagar

MICR code for Corporation Bank Margoa

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 Margoa 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. 403017014 is the MICR code of Corporation Bank for Margoa branch. MICR code for Margoa 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 Margoa is presented in the table alongside.

Use of Corp Bank MICR code for Margoa branch in margao

The MICR code 403017014 is used in RBI cheque clearing process to identify the branch Margoa 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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