Indian Bank Zirakpur Patiala Punjab MICR CODE

Find MICR Codes for Indian Bank Zirakpur Patiala Punjab

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MICR Code
Bank Indian Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Peer Mushalla
Contact 7087233340
Bank Details Indian Bank Peer Mushalla IDIB000P234
Location Zirakpur, Patiala
City Zirakpur
District Patiala
State Punjab
Pincode 140603
Country IN
Address Shop no. 29, ground floor, tricity plaza, peer mushalla, s.a.s nagar (mohali) dist, punjab, pin-140603
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 160019024 for Peer Mushalla 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 160019024 of Indian Bank, Peer Mushalla branch makes the system almost error free and faster. Use of Indian Bank MICR codes for Peer Mushalla branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Indian Bank are available with micr code -

>>Peer Mushalla >>Zirakpur

MICR code for Indian Bank Peer Mushalla

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 Peer Mushalla 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. 160019024 is the MICR code of Indian Bank for Peer Mushalla branch. MICR code for Peer Mushalla 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 Peer Mushalla is presented in the table alongside.

Use of Indian Bank MICR code for Peer Mushalla branch in zirakpur

The MICR code 160019024 is used in RBI cheque clearing process to identify the branch Peer Mushalla 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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