IDBI Alibag Raigad Maharashtra MICR CODE

Find MICR Codes for IDBI Alibag Raigad Maharashtra

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MICR Code	402259506
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	Poynad
Contact	9029076633
Bank Details	Idbi Bank Ltd Poynad IBKL0001700

Location	Alibag, Raigad
City	Alibag
District	Raigad
State	Maharashtra
Pincode	402108
Country	IN
Address	Ground floor,radha hari sankul,post poynad,taluka alibaug,raigad402108

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 402259506 for Poynad 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 402259506 of IDBI Bank, Poynad branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Poynad branch, makes the characters readable even if there are other marks and stamps on it.

A total of 8 branches of Idbi Bank Ltd are available with micr code -

>>Alibag >>Alibag Co Op Urban Bank Ltd Alibag >>Alibaug >>Dhokawade >>Kharghar >>Pen >>Poynad >>Vave

MICR code for IDBI Poynad

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Poynad 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. 402259506 is the MICR code of IDBI for Poynad branch. MICR code for Poynad 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 Poynad is presented in the table alongside.

Use of IDBI Bank MICR code for Poynad branch in alibag

The MICR code 402259506 is used in RBI cheque clearing process to identify the branch Poynad 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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