Indian Overseas Bank Gadag Gadag Karnataka MICR CODE

Find MICR Codes for Indian Overseas Bank Gadag Gadag Karnataka

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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	Gajendragarh
Contact	0832 2435640
Bank Details	Indian Overseas Bank Gajendragarh IOBA0002650

Location	Gadag, Gadag
City	Gadag
District	Gadag
State	Karnataka
Pincode	528114
Country	IN
Address	Raibagi building double road gajemndragad 528114

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

A total of 3 branches of Indian Overseas Bank are available with micr code -

>>Gadag >>Gajendragarh >>Malasamudra

MICR code for Indian Overseas Bank Gajendragarh

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

Use of IOB Bank MICR code for Gajendragarh branch in gadag

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