ICICI Belgaum Raibag Karnataka MICR CODE

Find MICR Codes for ICICI Belgaum Raibag Karnataka

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MICR Code
Bank Icici Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Raibag
Contact 0
Bank Details Icici Bank Ltd Raibag ICIC0004665
Location Belgaum, Raibag
City Belgaum
District Raibag
State Karnataka
Pincode 591317
Country IN
Address Icici bank ltd, mulla complex, ankali main road, raibag 591317
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 Raibag 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, Raibag branch makes the system almost error free and faster. Use of ICICI Bank MICR codes for Raibag 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 -

>>Raibag

MICR code for ICICI Raibag

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

Use of ICICI Bank MICR code for Raibag branch in belgaum

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