Cosmos Bank Mumbai Greater Bombay Maharashtra MICR CODE

Find MICR Codes for Cosmos Bank Mumbai Greater Bombay Maharashtra

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MICR Code
Bank Cosmos Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Chembur
Contact Mr.Thombre Atul, Manager, Ph.022-25208142, 25208144
Bank Details Cosmos Co-Op Bank Ltd Chembur COSB0000042
Location Mumbai, Greater Bombay
City Mumbai
District Greater Bombay
State Maharashtra
Pincode 400071
Country IN
Address Richmond heights,central avenue road,ground floor,plot 239,chembur mumbai 400071
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 400164012 for Chembur 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 400164012 of Cosmos Cooperative Bank, Chembur branch makes the system almost error free and faster. Use of Cosmos Cooperative Bank MICR codes for Chembur branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Cosmos Bank Chembur

Cosmos Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Cosmos Cooperative Bank MICR code for Chembur 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. 400164012 is the MICR code of Cosmos Bank for Chembur branch. MICR code for Chembur 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 Cosmos Cooperative Bank Chembur is presented in the table alongside.

Use of Cosmos Cooperative Bank MICR code for Chembur branch in mumbai

The MICR code 400164012 is used in RBI cheque clearing process to identify the branch Chembur and Cosmos Cooperative 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 Cosmos Bank is typically in either of these two font’s: E-138 and CMC-7.

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