Indian Bank North Goa Panaji Goa MICR CODE

Find MICR Codes for Indian Bank North Goa Panaji Goa

Bank	↻ Reload
State
District
City
Branch
Address

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	Panaji
Contact	0
Bank Details	Indian Bank Panaji IDIB000P564

Location	North Goa, Panaji
City	North Goa
District	Panaji
State	Goa
Pincode
Country	IN
Address	V s demo road ameya hotel building opposite st inez church v s demo road

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

>>Panaji

MICR code for Indian Bank Panaji

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

Use of Indian Bank MICR code for Panaji branch in north goa

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

Copied!