Corporation Bank Pune Pune Maharashtra MICR CODE

Find MICR Codes for Corporation Bank Pune Pune Maharashtra

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MICR Code
Bank Corporation Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Pune Somwarpet
Contact 020-26050601
Bank Details Corporation Bank Pune Somwarpet CORP0000785
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode 411001
Country IN
Address Mseb power house,somwarpeth, pune-411 001
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 411017012 for Pune Somwarpet 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 411017012 of Corp Bank, Pune Somwarpet branch makes the system almost error free and faster. Use of Corp Bank MICR codes for Pune Somwarpet branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Corporation Bank Pune Somwarpet

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 Pune Somwarpet 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. 411017012 is the MICR code of Corporation Bank for Pune Somwarpet branch. MICR code for Pune Somwarpet 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 Pune Somwarpet is presented in the table alongside.

Use of Corp Bank MICR code for Pune Somwarpet branch in pune

The MICR code 411017012 is used in RBI cheque clearing process to identify the branch Pune Somwarpet 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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