IDBI Mohali Rupnagar Punjab MICR CODE

Find MICR Codes for IDBI Mohali Rupnagar Punjab

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MICR Code	160259004
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	S A S Nagar Mohali
Contact	0172-5094170-171
Bank Details	Idbi Bank Ltd S A S Nagar Mohali IBKL0000054

Location	Mohali, Rupnagar
City	Mohali
District	Rupnagar
State	Punjab
Pincode	160062
Country	IN
Address	Fortis heart institutesector 62, phase 8

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 160259004 for S A S Nagar Mohali 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 160259004 of IDBI Bank, S A S Nagar Mohali branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for S A S Nagar Mohali branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Idbi Bank Ltd are available with micr code -

>>Mohali >>S A S Nagar Mohali

MICR code for IDBI S A S Nagar Mohali

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for S A S Nagar Mohali 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. 160259004 is the MICR code of IDBI for S A S Nagar Mohali branch. MICR code for S A S Nagar Mohali 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 S A S Nagar Mohali is presented in the table alongside.

Use of IDBI Bank MICR code for S A S Nagar Mohali branch in mohali

The MICR code 160259004 is used in RBI cheque clearing process to identify the branch S A S Nagar Mohali 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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