Indian Overseas Bank Magadi Bangalore Rural Karnataka MICR CODE

Find MICR Codes for Indian Overseas Bank Magadi Bangalore Rural Karnataka

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State
District
City
Branch
Address

MICR Code	-NA-
Bank	Indian Overseas Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Agalakote
Contact	22950210/22950212
Bank Details	Indian Overseas Bank Agalakote IOBA0003420

Location	Magadi, Bangalore Rural
City	Magadi
District	Bangalore Rural
State	Karnataka
Pincode	562120
Country	IN
Address	42/1a,donakuppe village,agalakote hand post,magadi taluk,ramnagaram dis t - 562120

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

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

>>Agalakote >>Marasandra Amanikere

MICR code for Indian Overseas Bank Agalakote

Indian Overseas Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IOB Bank MICR code for Agalakote 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 Overseas Bank for Agalakote branch. MICR code for Agalakote 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 IOB Bank Agalakote is presented in the table alongside.

Use of IOB Bank MICR code for Agalakote branch in magadi

The MICR code 0 is used in RBI cheque clearing process to identify the branch Agalakote and IOB 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 Overseas Bank is typically in either of these two font’s: E-138 and CMC-7.

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