Indian Bank Panaikulam Ramanathapuram Tamil Nadu MICR CODE

Find MICR Codes for Indian Bank Panaikulam Ramanathapuram Tamil Nadu

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MICR Code	623019990
Bank	Indian Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Panaikulam
Contact	9047706978
Bank Details	Indian Bank Panaikulam IDIB000P247

Location	Panaikulam, Ramanathapuram
City	Panaikulam
District	Ramanathapuram
State	Tamil Nadu
Pincode	623522
Country	IN
Address	11/1944, west street, panaikulam, ramanathapuram dist, tamilnadu, pin-623522

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 623019990 for Panaikulam 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 623019990 of Indian Bank, Panaikulam branch makes the system almost error free and faster. Use of Indian Bank MICR codes for Panaikulam 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 -

>>Panaikulam

MICR code for Indian Bank Panaikulam

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 Panaikulam 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. 623019990 is the MICR code of Indian Bank for Panaikulam branch. MICR code for Panaikulam 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 Panaikulam is presented in the table alongside.

Use of Indian Bank MICR code for Panaikulam branch in panaikulam

The MICR code 623019990 is used in RBI cheque clearing process to identify the branch Panaikulam 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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