MICR Code Bank
Find MICR code for IDBI branches in India for NEFT and RTGS transfer

IDBI MICR CODE

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  1. Idbi Bank Ltd »
  2. Maharashtra »
  3. nasik »
  4. nashik »
  5. loknete dattaji patil sahkari bank ltd

Find MICR Codes for IDBI

MICR Code: 422259254
Bank: Idbi Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Loknete Dattaji Patil Sahkari Bank Ltd
Contact: 2312526
Bank Details: Idbi Bank Ltd Loknete Dattaji Patil Sahkari Bank Ltd IBKL01992L2
Location: Nashik, Nasik
City: Nashik
District: Nasik
State: Maharashtra
Pincode: 422001
Country: IN
Address: Phinix tower,new pandit colony,nashik pin-422002

How does MICR code 422259253 for 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 422259253 of IDBI Bank, branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for IDBI

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for 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. 422259253 is the MICR code of IDBI for branch. MICR code for 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 is presented in the table alongside.

Use of IDBI Bank MICR code for branch in nashik

The MICR code 422259253 is used in RBI cheque clearing process to identify the branch 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.