Indian Bank Guntur Guntur Andhra Pradesh MICR CODE

Find MICR Codes for Indian Bank Guntur Guntur Andhra Pradesh

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MICR Code	520019106
Bank	Indian Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Patnam Bazaar
Contact	0863 2220779
Bank Details	Indian Bank Patnam Bazaar IDIB000G053

Location	Guntur, Guntur
City	Guntur
District	Guntur
State	Andhra Pradesh
Pincode	522003
Country	IN
Address	22-2-95 cloth bazaar guntur andhra pradesh 522003

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 520019106 for Patnam Bazaar 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 520019106 of Indian Bank, Patnam Bazaar branch makes the system almost error free and faster. Use of Indian Bank MICR codes for Patnam Bazaar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 11 branches of Indian Bank are available with micr code -

>>A T Agraharam >>Bhavanamvaripalem >>Brodipet >>Gujjanagundla >>Guntur >>Lakshmipuram >>Mcb Guntur >>Mcb Guntur >>Microsate Branch Guntur >>Nehru Nagar >>Patnam Bazaar

MICR code for Indian Bank Patnam Bazaar

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 Patnam Bazaar 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. 520019106 is the MICR code of Indian Bank for Patnam Bazaar branch. MICR code for Patnam Bazaar 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 Patnam Bazaar is presented in the table alongside.

Use of Indian Bank MICR code for Patnam Bazaar branch in guntur

The MICR code 520019106 is used in RBI cheque clearing process to identify the branch Patnam Bazaar 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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