Greater Bombay Bank service branch MICR codes are given in the table alongside. Details including address and contact numbers are also provided. From Greater Co Op Bank MICR codes list for service branch, one can further search by branch name specified in the table. You can find MICR codes for all Greater Bombay Bank service branch branches.
Greater Bombay Bank MICR code is a character recognition technology used by banks in the processing of cheques. Greater Co Op Bank MICR code for service branch branches includes document type indicator, bank code, cheque number, etc. This code is printed in either of the two fonts E-138 and CMC-7 using a magnetic ink or toner, usually containing iron oxide. The MICR code for Greater Bombay Bank branches in service branch, is used to identify the bank branch to which the cheque belongs. It is used by RBI for clearance of cheques.
In manual clearing of cheques, there is a possibility of many errors and a long delay is involved. The characters of MICR code for a Greater Bombay Bank service branch branch, sprinted 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. Thus MICR code for Greater Co Op Bank service branch branches speeds up the processing of cheque as it reduces manual effort of sorting. Use of Greater Bombay Bank MICR codes for service branch branches, makes the characters readable even if there are other marks and stamps on it. This makes the system almost error proof!