Corporation Bank Ponda North Goa Goa MICR CODE

Find MICR Codes for Corporation Bank Ponda North Goa Goa

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MICR Code	403017021
Bank	Corporation Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Ponda
Contact	0832-2314945
Bank Details	Corporation Bank Ponda CORP0000325

Location	Ponda, North Goa
City	Ponda
District	North Goa
State	Goa
Pincode	403401
Country	IN
Address	Govind smrithi shantinagar road ponda 403401

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 403017021 for Ponda 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 403017021 of Corp Bank, Ponda branch makes the system almost error free and faster. Use of Corp Bank MICR codes for Ponda 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 -

>>Farmagudi Goa >>Kundaim >>Ponda >>Ramnathi Temple Ponda

MICR code for Corporation Bank Ponda

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 Ponda 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. 403017021 is the MICR code of Corporation Bank for Ponda branch. MICR code for Ponda 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 Ponda is presented in the table alongside.

Use of Corp Bank MICR code for Ponda branch in ponda

The MICR code 403017021 is used in RBI cheque clearing process to identify the branch Ponda 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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