ICICI Raisen Raisen Madhya Pradesh MICR CODE

Find MICR Codes for ICICI Raisen Raisen Madhya Pradesh

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MICR Code
Bank Icici Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Pagneshwar
Contact Mr. Abhinav Shrivastava -09893138472
Bank Details Icici Bank Ltd Pagneshwar ICIC0002920
Location Raisen, Raisen
City Raisen
District Raisen
State Madhya Pradesh
Pincode 464651
Country IN
Address Icici bank ltd., village pagneshwar, sub district raisen, district raisen, pin 464651, madhya pradesh
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 464229506 for Pagneshwar 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 464229506 of ICICI Bank, Pagneshwar branch makes the system almost error free and faster. Use of ICICI Bank MICR codes for Pagneshwar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 4 branches of Icici Bank Ltd are available with micr code -

>>Gairatganj >>Mehgaon >>Pagneshwar >>Raisen

MICR code for ICICI Pagneshwar

ICICI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. ICICI Bank MICR code for Pagneshwar 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. 464229506 is the MICR code of Industrial Credit And Investment Corporation Of India for Pagneshwar branch. MICR code for Pagneshwar 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 Pagneshwar is presented in the table alongside.

Use of ICICI Bank MICR code for Pagneshwar branch in raisen

The MICR code 464229506 is used in RBI cheque clearing process to identify the branch Pagneshwar 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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