Indian Bank Panaji North Goa Goa MICR CODE

Find MICR Codes for Indian Bank Panaji North Goa Goa

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MICR Code	403019099
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	0832 2225994, 22229075
Bank Details	Indian Bank Panaji IDIB000P015

Location	Panaji, North Goa
City	Panaji
District	North Goa
State	Goa
Pincode	403001
Country	IN
Address	Dr domingo roque, de souza road panaji goa 403001

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 403019099 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 403019099 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. 403019099 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 panaji

The MICR code 403019099 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.

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