ICICI Palam Delhi New Delhi MICR CODE

Find MICR Codes for ICICI Palam Delhi New Delhi

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MICR Code
Bank Icici Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Palam Colony
Contact
Bank Details Icici Bank Ltd Palam Colony ICIC0007322
Location Palam, Delhi
City Palam
District Delhi
State New Delhi
Pincode 110045
Country IN
Address Rz 11 puran nagar palam colony front of palam metro gate no 3 delhi 110045
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 Palam Colony 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, Palam Colony branch makes the system almost error free and faster. Use of ICICI Bank MICR codes for Palam Colony 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 -

>>Palam Colony

MICR code for ICICI Palam Colony

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

Use of ICICI Bank MICR code for Palam Colony branch in palam

The MICR code 0 is used in RBI cheque clearing process to identify the branch Palam Colony 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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