Indian Bank Kapurthala Rayya Punjab MICR CODE

Find MICR Codes for Indian Bank Kapurthala Rayya Punjab

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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	Phagwara
Contact	0
Bank Details	Indian Bank Phagwara IDIB000P632

Location	Kapurthala, Rayya
City	Kapurthala
District	Rayya
State	Punjab
Pincode
Country	IN
Address	Kapurthala phagawara

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

>>Phagwara

MICR code for Indian Bank Phagwara

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

Use of Indian Bank MICR code for Phagwara branch in kapurthala

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