Corporation Bank Palghar Thane Maharashtra MICR CODE

Find MICR Codes for Corporation Bank Palghar Thane Maharashtra

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State
District
City
Branch
Address

MICR Code	-NA-
Bank	Corporation Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Satpati
Contact
Bank Details	Corporation Bank Satpati CORP0003141

Location	Palghar, Thane
City	Palghar
District	Thane
State	Maharashtra
Pincode	401405
Country	IN
Address	At post satpati near nityanand mandir talluka palghar

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 0 for Satpati 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 0 of Corp Bank, Satpati branch makes the system almost error free and faster. Use of Corp Bank MICR codes for Satpati branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Corporation Bank are available with micr code -

>>Palghar >>Satpati

MICR code for Corporation Bank Satpati

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 Satpati 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. 0 is the MICR code of Corporation Bank for Satpati branch. MICR code for Satpati 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 Satpati is presented in the table alongside.

Use of Corp Bank MICR code for Satpati branch in palghar

The MICR code 0 is used in RBI cheque clearing process to identify the branch Satpati 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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