IDBI Visakhapatnam Vishakhapatnam Andhra Pradesh MICR CODE

Find MICR Codes for IDBI Visakhapatnam Vishakhapatnam Andhra Pradesh

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MICR Code
Bank Idbi Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch The Visakhapatnam Co Op Bank Ltd
Contact 2788466
Bank Details Idbi Bank Ltd The Visakhapatnam Co Op Bank Ltd IBKL0031VCB
Location Visakhapatnam, Vishakhapatnam
City Visakhapatnam
District Vishakhapatnam
State Andhra Pradesh
Pincode 530001
Country IN
Address Town kotha road, visakhapatnam -530001
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 530469002 for The Visakhapatnam Co Op Bank Ltd 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 530469002 of IDBI Bank, The Visakhapatnam Co Op Bank Ltd branch makes the system almost error free and faster. Use of IDBI Bank MICR codes for The Visakhapatnam Co Op Bank Ltd branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for IDBI The Visakhapatnam Co Op Bank Ltd

IDBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IDBI Bank MICR code for The Visakhapatnam Co Op Bank Ltd 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. 530469002 is the MICR code of IDBI for The Visakhapatnam Co Op Bank Ltd branch. MICR code for The Visakhapatnam Co Op Bank Ltd 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 The Visakhapatnam Co Op Bank Ltd is presented in the table alongside.

Use of IDBI Bank MICR code for The Visakhapatnam Co Op Bank Ltd branch in visakhapatnam

The MICR code 530469002 is used in RBI cheque clearing process to identify the branch The Visakhapatnam Co Op Bank Ltd 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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