Cosmos Bank Kolhapur Kolhapur Maharashtra MICR CODE

Find MICR Codes for Cosmos Bank Kolhapur Kolhapur 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 Shahupuri Kolhapur
Contact Mr Ravindra Nikam, Manager
Bank Details Cosmos Co-Op Bank Ltd Shahupuri Kolhapur COSB0000087
Location Kolhapur, Kolhapur
City Kolhapur
District Kolhapur
State Maharashtra
Pincode 416003
Country IN
Address Vasant plaza c s no 1079/kh/z e ward shahupuri rajaram road kolhapur 416003
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 416164003 for Shahupuri Kolhapur 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 416164003 of Cosmos Cooperative Bank, Shahupuri Kolhapur branch makes the system almost error free and faster. Use of Cosmos Cooperative Bank MICR codes for Shahupuri Kolhapur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Cosmos Co-Op Bank Ltd are available with micr code -

>>Laxmipuri Kolhapur >>Shahupuri Kolhapur

MICR code for Cosmos Bank Shahupuri Kolhapur

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 Shahupuri Kolhapur 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. 416164003 is the MICR code of Cosmos Bank for Shahupuri Kolhapur branch. MICR code for Shahupuri Kolhapur 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 Shahupuri Kolhapur is presented in the table alongside.

Use of Cosmos Cooperative Bank MICR code for Shahupuri Kolhapur branch in kolhapur

The MICR code 416164003 is used in RBI cheque clearing process to identify the branch Shahupuri Kolhapur 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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