Indian Bank Paschimi Singhbhum Chaibasa Jharkhand MICR CODE

Find MICR Codes for Indian Bank Paschimi Singhbhum Chaibasa Jharkhand

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MICR Code	-NA-
Bank	Indian Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Chaibasa
Contact	0
Bank Details	Indian Bank Chaibasa IDIB000C506

Location	Paschimi Singhbhum, Chaibasa
City	Paschimi Singhbhum
District	Chaibasa
State	Jharkhand
Pincode	833201
Country	IN
Address	Chaibasa sadar bazar chaibasa 833201

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 0 for Chaibasa 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 0 of Indian Bank, Chaibasa branch makes the system almost error free and faster. Use of Indian Bank MICR codes for Chaibasa branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Indian Bank are available with micr code -

>>Chaibasa

MICR code for Indian Bank Chaibasa

Indian Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Indian Bank MICR code for Chaibasa 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. 0 is the MICR code of Indian Bank for Chaibasa branch. MICR code for Chaibasa 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 Indian Bank Chaibasa is presented in the table alongside.

Use of Indian Bank MICR code for Chaibasa branch in paschimi singhbhum

The MICR code 0 is used in RBI cheque clearing process to identify the branch Chaibasa and Indian 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 Indian Bank is typically in either of these two font’s: E-138 and CMC-7.

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