IDBI Khandwa Khandwa Madhya Pradesh MICR CODE

Find MICR Codes for IDBI Khandwa Khandwa Madhya Pradesh

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MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Khandwa
Contact 0733-2223142
Bank Details Idbi Bank Ltd Khandwa IBKL0000547
Location Khandwa, Khandwa
City Khandwa
District Khandwa
State Madhya Pradesh
Pincode 450001
Country IN
Address Chhabada market bombay bazar, p b no. 36,, khandwa, pincode - 450001
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 Khandwa 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, Khandwa branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Khandwa branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Idbi Bank Ltd are available with micr code -

>>Khandwa

MICR code for IDBI Khandwa

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

Use of IDBI Bank MICR code for Khandwa branch in khandwa

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