Indian Overseas Bank Aurangabad Aurangabad Maharashtra MICR CODE

Find MICR Codes for Indian Overseas Bank Aurangabad Aurangabad Maharashtra

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MICR Code	431020003
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	Aurangabad
Contact	P Suresh Kumar, Senior Manager, Indian Overseas Bank, Funds Department, Central Office, Phone-044-28519488, Email:Funds@iobnet.Co.In
Bank Details	Indian Overseas Bank Aurangabad IOBA0000709

Location	Aurangabad, Aurangabad
City	Aurangabad
District	Aurangabad
State	Maharashtra
Pincode	431001
Country	IN
Address	Lucky raj mansion,opp st.francis school, jalna road, aurangabad pin : 431001

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 431020003 for Aurangabad 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 431020003 of IOB Bank, Aurangabad branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Aurangabad branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Indian Overseas Bank are available with micr code -

>>Aurangabad

MICR code for Indian Overseas Bank Aurangabad

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 Aurangabad 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. 431020003 is the MICR code of Overseas Bank for Aurangabad branch. MICR code for Aurangabad 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 Aurangabad is presented in the table alongside.

Use of IOB Bank MICR code for Aurangabad branch in aurangabad

The MICR code 431020003 is used in RBI cheque clearing process to identify the branch Aurangabad 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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