Indian Overseas Bank Hayatnagar Rangareddy Andhra Pradesh MICR CODE

Find MICR Codes for Indian Overseas Bank Hayatnagar Rangareddy Andhra Pradesh

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MICR Code
Bank Indian Overseas Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Hyderabad Hayat Nagar
Contact 040-23468872
Bank Details Indian Overseas Bank Hyderabad Hayat Nagar IOBA0002665
Location Hayatnagar, Rangareddy
City Hayatnagar
District Rangareddy
State Andhra Pradesh
Pincode 501505
Country IN
Address No-4-7-235,vijayawada nh9 road,hayatnagar,rangareddy dt-501505
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 Hyderabad Hayat Nagar 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, Hyderabad Hayat Nagar branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Hyderabad Hayat Nagar 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 -

>>Hyderabad Hayat Nagar >>Vanasthalipuram

MICR code for Indian Overseas Bank Hyderabad Hayat Nagar

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 Hyderabad Hayat Nagar 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 Hyderabad Hayat Nagar branch. MICR code for Hyderabad Hayat Nagar 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 Hyderabad Hayat Nagar is presented in the table alongside.

Use of IOB Bank MICR code for Hyderabad Hayat Nagar branch in hayatnagar

The MICR code 0 is used in RBI cheque clearing process to identify the branch Hyderabad Hayat Nagar 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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