IDBI Nagpur Nagpur Maharashtra MICR CODE

Find MICR Codes for IDBI Nagpur Nagpur Maharashtra

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MICR Code	110259005
Bank	Idbi Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Nagpur
Contact	011-5911478/82/83
Bank Details	Idbi Bank Ltd Nagpur IBKL0000041

Location	Nagpur, Nagpur
City	Nagpur
District	Nagpur
State	Maharashtra
Pincode	440001
Country	IN
Address	J-13/17 , patel marketrajouri garden

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 110259005 for Nagpur 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 110259005 of IDBI Bank, Nagpur branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Nagpur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 59 branches of Idbi Bank Ltd are available with micr code -

MICR code for IDBI Nagpur

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Nagpur 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. 110259005 is the MICR code of IDBI for Nagpur branch. MICR code for Nagpur 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 Nagpur is presented in the table alongside.

Use of IDBI Bank MICR code for Nagpur branch in nagpur

The MICR code 110259005 is used in RBI cheque clearing process to identify the branch Nagpur 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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