Indian Bank Gawli Palasia Indore Madhya Pradesh MICR CODE

Find MICR Codes for Indian Bank Gawli Palasia Indore Madhya Pradesh

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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	Palasia
Contact	9770044450
Bank Details	Indian Bank Palasia IDIB000P233

Location	Gawli Palasia, Indore
City	Gawli Palasia
District	Indore
State	Madhya Pradesh
Pincode	452015
Country	IN
Address	Adithya enclave, c-1,hig,main road,ab road, palasia, indore dist, mp, pin-452015

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

>>Palasia

MICR code for Indian Bank Palasia

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 Palasia 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 Palasia branch. MICR code for Palasia 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 Palasia is presented in the table alongside.

Use of Indian Bank MICR code for Palasia branch in gawli palasia

The MICR code 0 is used in RBI cheque clearing process to identify the branch Palasia 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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