Indian Overseas Bank Salem Salem Tamil Nadu MICR CODE

Find MICR Codes for Indian Overseas Bank Salem Salem Tamil Nadu

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MICR Code	636020003
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	Fairlands
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 Fairlands IOBA0000568

Location	Salem, Salem
City	Salem
District	Salem
State	Tamil Nadu
Pincode	636016
Country	IN
Address	197/ 1 b-2 5th cross brindavan road, fairlands salem pin : 636016

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 636020003 for Fairlands 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 636020003 of IOB Bank, Fairlands branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Fairlands branch, makes the characters readable even if there are other marks and stamps on it.

A total of 15 branches of Indian Overseas Bank are available with micr code -

>>Chinnanur >>Fairlands >>Ilampillai >>Karuppur >>Leigh Bazar >>Murungapatti >>R.O.Salem >>Rasipuram >>Salem District Court >>Salem District Court >>Salem Four Roads >>Salem Main >>Shevapet >>Suramangalam >>Vinayaka Missions Educational Institutions Campus

MICR code for Indian Overseas Bank Fairlands

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 Fairlands 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. 636020003 is the MICR code of Overseas Bank for Fairlands branch. MICR code for Fairlands 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 Fairlands is presented in the table alongside.

Use of IOB Bank MICR code for Fairlands branch in salem

The MICR code 636020003 is used in RBI cheque clearing process to identify the branch Fairlands 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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