IDBI Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for IDBI Panvel Raigad Maharashtra

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MICR Code	400259504
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	Sangade
Contact	9028531938
Bank Details	Idbi Bank Ltd Sangade IBKL0001393

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410203
Country	IN
Address	Grd flr, shop 1 & 2, kadav niwas, at sangade, post ajivali, taluka panvel

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 400259504 for Sangade 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 400259504 of IDBI Bank, Sangade branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Sangade branch, makes the characters readable even if there are other marks and stamps on it.

A total of 7 branches of Idbi Bank Ltd are available with micr code -

>>Dapoli Raigad >>Khanda Colony >>Old Panvel >>Panvel >>Panvel >>Sangade >>The Panvelurban Coop Bank

MICR code for IDBI Sangade

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Sangade 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. 400259504 is the MICR code of IDBI for Sangade branch. MICR code for Sangade 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 Sangade is presented in the table alongside.

Use of IDBI Bank MICR code for Sangade branch in panvel

The MICR code 400259504 is used in RBI cheque clearing process to identify the branch Sangade 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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