IDBI Gadhinglaj Kolhapur Maharashtra MICR CODE

Find MICR Codes for IDBI Gadhinglaj Kolhapur Maharashtra

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MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch State Transport Bank Gandhinglaj
Contact 225773
Bank Details Idbi Bank Ltd State Transport Bank Gandhinglaj IBKL0617S41
Location Gadhinglaj, Kolhapur
City Gadhinglaj
District Kolhapur
State Maharashtra
Pincode 416502
Country IN
Address S t bus stand, 1st floor, gandhinglaj, dist.kolhapur 416502
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 416390476 for State Transport Bank Gandhinglaj 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 416390476 of IDBI Bank, State Transport Bank Gandhinglaj branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for State Transport Bank Gandhinglaj branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for IDBI State Transport Bank Gandhinglaj

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for State Transport Bank Gandhinglaj 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. 416390476 is the MICR code of IDBI for State Transport Bank Gandhinglaj branch. MICR code for State Transport Bank Gandhinglaj 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 State Transport Bank Gandhinglaj is presented in the table alongside.

Use of IDBI Bank MICR code for State Transport Bank Gandhinglaj branch in gadhinglaj

The MICR code 416390476 is used in RBI cheque clearing process to identify the branch State Transport Bank Gandhinglaj 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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