IDBI Phaltan Satara Maharashtra MICR CODE

Find MICR Codes for IDBI Phaltan Satara Maharashtra

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MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Jadhavwadi
Contact 02166-223222
Bank Details Idbi Bank Ltd Jadhavwadi IBKL0001390
Location Phaltan, Satara
City Phaltan
District Satara
State Maharashtra
Pincode 415523
Country IN
Address House no. 521 plot no 20 "vaishnavi" ganesh nagar jadhavwadi 415523 taluka- phaltan district- satara
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 Jadhavwadi 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, Jadhavwadi branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Jadhavwadi branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Idbi Bank Ltd are available with micr code -

>>Jadhavwadi >>Phaltan

MICR code for IDBI Jadhavwadi

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

Use of IDBI Bank MICR code for Jadhavwadi branch in phaltan

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