Fedral Bank Wadi Nagpur Maharashtra MICR CODE

Find MICR Codes for Fedral Bank Wadi Nagpur Maharashtra

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MICR Code
Bank Federal Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Wadi
Contact 09890922235
Bank Details Federal Bank Ltd Wadi FDRL0001848
Location Wadi, Nagpur
City Wadi
District Nagpur
State Maharashtra
Pincode 440023
Country IN
Address Tower 6,lake view enclave,atomic energy road,amravati road,maharashtra-440023
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 Wadi 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 Federal Bank, Wadi branch makes the system almost error free and faster. Use of Federal Bank MICR codes for Wadi branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Federal Bank Ltd are available with micr code -

>>Wadi

MICR code for Fedral Bank Wadi

Fedral Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Federal Bank MICR code for Wadi 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 Fedral Bank for Wadi branch. MICR code for Wadi 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 Federal Bank Wadi is presented in the table alongside.

Use of Federal Bank MICR code for Wadi branch in wadi

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

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