Indian Bank Palasa Srikakulam Andhra Pradesh MICR CODE

Find MICR Codes for Indian Bank Palasa Srikakulam Andhra Pradesh

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MICR Code	532019966
Bank	Indian Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Palasa
Contact	8500628242
Bank Details	Indian Bank Palasa IDIB000P256

Location	Palasa, Srikakulam
City	Palasa
District	Srikakulam
State	Andhra Pradesh
Pincode
Country	IN
Address	20-4-115 opp sbi, purushothapuram palasa

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 532019966 for Palasa 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 532019966 of Indian Bank, Palasa branch makes the system almost error free and faster. Use of Indian Bank MICR codes for Palasa 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 -

>>Palasa

MICR code for Indian Bank Palasa

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 Palasa 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. 532019966 is the MICR code of Indian Bank for Palasa branch. MICR code for Palasa 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 Palasa is presented in the table alongside.

Use of Indian Bank MICR code for Palasa branch in palasa

The MICR code 532019966 is used in RBI cheque clearing process to identify the branch Palasa 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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