Corporation Bank Raichur Raichur Karnataka MICR CODE

Find MICR Codes for Corporation Bank Raichur Raichur Karnataka

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MICR Code	584017002
Bank	Corporation Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Raichur
Contact	08532-226347
Bank Details	Corporation Bank Raichur CORP0000045

Location	Raichur, Raichur
City	Raichur
District	Raichur
State	Karnataka
Pincode	584101
Country	IN
Address	11-9-28, brestwarpet, pbno.5, raichur-584101

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 584017002 for Raichur 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 584017002 of Corp Bank, Raichur branch makes the system almost error free and faster. Use of Corp Bank MICR codes for Raichur 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 -

>>Chicksugur >>Raichur >>Raichur Gunj

MICR code for Corporation Bank Raichur

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 Raichur 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. 584017002 is the MICR code of Corporation Bank for Raichur branch. MICR code for Raichur 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 Raichur is presented in the table alongside.

Use of Corp Bank MICR code for Raichur branch in raichur

The MICR code 584017002 is used in RBI cheque clearing process to identify the branch Raichur 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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