ICICI Panvel Panvel Maharashtra MICR CODE

Find MICR Codes for ICICI Panvel Panvel Maharashtra

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MICR Code
Bank Icici Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Karanjade
Contact 0
Bank Details Icici Bank Ltd Karanjade ICIC0004841
Location Panvel, Panvel
City Panvel
District Panvel
State Maharashtra
Pincode 410206
Country IN
Address Icici bank ltd, shop no 1 and 2, vinayak avadh, plot no 72, sector 3, karanjade, 410206 maharashtra
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 Karanjade 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 ICICI Bank, Karanjade branch makes the system almost error free and faster. Use of ICICI Bank MICR codes for Karanjade branch, makes the characters readable even if there are other marks and stamps on it.

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

>>Karanjade

MICR code for ICICI Karanjade

ICICI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. ICICI Bank MICR code for Karanjade 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 Industrial Credit And Investment Corporation Of India for Karanjade branch. MICR code for Karanjade 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 ICICI Bank Karanjade is presented in the table alongside.

Use of ICICI Bank MICR code for Karanjade branch in panvel

The MICR code 0 is used in RBI cheque clearing process to identify the branch Karanjade and ICICI 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 Industrial Credit And Investment Corporation Of India is typically in either of these two font’s: E-138 and CMC-7.

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