Indian Overseas Bank Patna Patna Bihar MICR CODE

Find MICR Codes for Indian Overseas Bank Patna Patna Bihar

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MICR Code	800020014
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	Khaspur
Contact	2205300
Bank Details	Indian Overseas Bank Khaspur IOBA0003792

Location	Patna, Patna
City	Patna
District	Patna
State	Bihar
Pincode	801503
Country	IN
Address	Near khaspur petrol pump maner, patna

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 800020014 for Khaspur 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 800020014 of IOB Bank, Khaspur branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Khaspur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 13 branches of Indian Overseas Bank are available with micr code -

>>Bihta >>Boring Road >>C B O Patna >>Exhibition Road >>Kankarbagh Colony >>Khaspur >>Kothawan >>Patna >>R R C Patna >>R.O.Patna >>Saguna More >>Shastri Nagar Patna >>Shiksha Bhawan Patna

MICR code for Indian Overseas Bank Khaspur

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 Khaspur 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. 800020014 is the MICR code of Overseas Bank for Khaspur branch. MICR code for Khaspur 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 Khaspur is presented in the table alongside.

Use of IOB Bank MICR code for Khaspur branch in patna

The MICR code 800020014 is used in RBI cheque clearing process to identify the branch Khaspur 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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