Equitas Bank Madurai Madurai Tamil Nadu MICR CODE

Find MICR Codes for Equitas Bank Madurai Madurai Tamil Nadu

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MICR Code
Bank Equitas Small Finance Bank Limited
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Ramanathapuram Madurai
Contact 0
Bank Details Equitas Small Finance Bank Limited Ramanathapuram Madurai ESFB0001337
Location Madurai, Madurai
City Madurai
District Madurai
State Tamil Nadu
Pincode 623501
Country IN
Address No. 55/16, first floor, central plaza, salai street, ramanathapuram-623501
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 Ramanathapuram Madurai 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 Equitas Bank Small Finance Bank, Ramanathapuram Madurai branch makes the system almost error free and faster. Use of Equitas Bank Small Finance Bank MICR codes for Ramanathapuram Madurai branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Equitas Bank Ramanathapuram Madurai

Equitas Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Equitas Bank Small Finance Bank MICR code for Ramanathapuram Madurai 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 Equitas Bank for Ramanathapuram Madurai branch. MICR code for Ramanathapuram Madurai 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 Equitas Bank Small Finance Bank Ramanathapuram Madurai is presented in the table alongside.

Use of Equitas Bank Small Finance Bank MICR code for Ramanathapuram Madurai branch in madurai

The MICR code 0 is used in RBI cheque clearing process to identify the branch Ramanathapuram Madurai and Equitas Bank Small Finance 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 Equitas Bank is typically in either of these two font’s: E-138 and CMC-7.

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