Corporation Bank Guntur Guntur Andhra Pradesh MICR CODE

Find MICR Codes for Corporation Bank Guntur Guntur Andhra Pradesh

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MICR Code	524017002
Bank	Corporation Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Nellore
Contact	0861-2326382
Bank Details	Corporation Bank Nellore CORP0000047

Location	Guntur, Guntur
City	Guntur
District	Guntur
State	Andhra Pradesh
Pincode	524001
Country	IN
Address	15/196, gunturivari street, brindavanam, nellore - 524 001

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 524017002 for Nellore 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 524017002 of Corp Bank, Nellore branch makes the system almost error free and faster. Use of Corp Bank MICR codes for Nellore 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 -

>>Chinakakani >>Guntur >>Guntur Lakshmipuram >>Nellore

MICR code for Corporation Bank Nellore

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 Nellore 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. 524017002 is the MICR code of Corporation Bank for Nellore branch. MICR code for Nellore 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 Nellore is presented in the table alongside.

Use of Corp Bank MICR code for Nellore branch in guntur

The MICR code 524017002 is used in RBI cheque clearing process to identify the branch Nellore 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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