IDBI Pune Pune Maharashtra MICR CODE

Find MICR Codes for IDBI Pune Pune Maharashtra

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MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Currency Chest Pune
Contact 8983335454 / 9822681924 / 9922504748
Bank Details Idbi Bank Ltd Currency Chest Pune IBKL0000975
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode 411016
Country IN
Address Idbi bank bldg, ground floor, plot no. - 421 / a, gokhale road, near symbiosis - atur centre, ashok nagar, pune - 411016
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 Currency Chest Pune 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 IDBI Bank, Currency Chest Pune branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Currency Chest Pune branch, makes the characters readable even if there are other marks and stamps on it.

A total of 90 branches of Idbi Bank Ltd are available with micr code -

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MICR code for IDBI Currency Chest Pune

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

Use of IDBI Bank MICR code for Currency Chest Pune branch in pune

The MICR code 0 is used in RBI cheque clearing process to identify the branch Currency Chest Pune and IDBI 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 IDBI is typically in either of these two font’s: E-138 and CMC-7.

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