Cosmos Bank Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for Cosmos Bank Mumbai Mumbai 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 Daftari Road Malad East Branch
Contact 22-28838825
Bank Details Cosmos Co-Op Bank Ltd Daftari Road Malad East Branch COSB0000150
Location Mumbai, Mumbai
City Mumbai
District Mumbai
State Maharashtra
Pincode 400097
Country IN
Address Monica arcade, subhash lane, daftari road, malad east, mumbai 400097
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 Daftari Road Malad East Branch 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 Cosmos Cooperative Bank, Daftari Road Malad East Branch branch makes the system almost error free and faster. Use of Cosmos Cooperative Bank MICR codes for Daftari Road Malad East Branch branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Cosmos Bank Daftari Road Malad East Branch

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 Daftari Road Malad East Branch 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 Cosmos Bank for Daftari Road Malad East Branch branch. MICR code for Daftari Road Malad East Branch 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 Daftari Road Malad East Branch is presented in the table alongside.

Use of Cosmos Cooperative Bank MICR code for Daftari Road Malad East Branch branch in mumbai

The MICR code 0 is used in RBI cheque clearing process to identify the branch Daftari Road Malad East Branch 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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