IDBI Panchkula Panchkula Haryana MICR CODE

Find MICR Codes for IDBI Panchkula Panchkula Haryana

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MICR Code	160259023
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	Sector Panchkula
Contact	8558006467
Bank Details	Idbi Bank Ltd Sector Panchkula IBKL0002084

Location	Panchkula, Panchkula
City	Panchkula
District	Panchkula
State	Haryana
Pincode	134108
Country	IN
Address	Sco 18,sector 16,panchkula

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 160259023 for Sector Panchkula 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 160259023 of IDBI Bank, Sector Panchkula branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for Sector Panchkula 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 -

>>Boonga >>Currency Chest Panchkula >>Idbi Bank Sector Panchkula Billdesk Haryana E Gras >>Panchkula >>Panchkula Sec 20 >>Sector Panchkula >>Swastik Vihar Panchkula

MICR code for IDBI Sector Panchkula

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for Sector Panchkula 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. 160259023 is the MICR code of IDBI for Sector Panchkula branch. MICR code for Sector Panchkula 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 Sector Panchkula is presented in the table alongside.

Use of IDBI Bank MICR code for Sector Panchkula branch in panchkula

The MICR code 160259023 is used in RBI cheque clearing process to identify the branch Sector Panchkula 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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