IDBI Pune Pune Maharashtra MICR CODE

Find MICR Codes for IDBI Pune Pune Maharashtra

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MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Pune Shivajinagar
Contact 020-25533247
Bank Details Idbi Bank Ltd Pune Shivajinagar IBKL0000568
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode 411005
Country IN
Address Cts no.1189/3,modern college road., near dnyaneshwar paduka chowkshivajinger pune,, pune-411005,, pincode - 411005
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 411259008 for Pune Shivajinagar 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 411259008 of IDBI Bank, Pune Shivajinagar branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Pune Shivajinagar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 90 branches of Idbi Bank Ltd are available with micr code -

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MICR code for IDBI Pune Shivajinagar

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Pune Shivajinagar 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. 411259008 is the MICR code of IDBI for Pune Shivajinagar branch. MICR code for Pune Shivajinagar 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 Pune Shivajinagar is presented in the table alongside.

Use of IDBI Bank MICR code for Pune Shivajinagar branch in pune

The MICR code 411259008 is used in RBI cheque clearing process to identify the branch Pune Shivajinagar 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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