Indian Overseas Bank Bhopal Bhopal Madhya Pradesh MICR CODE

Find MICR Codes for Indian Overseas Bank Bhopal Bhopal Madhya Pradesh

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MICR Code	462020003
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	M.P.Nagar Bhopal
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 M.P.Nagar Bhopal IOBA0001115

Location	Bhopal, Bhopal
City	Bhopal
District	Bhopal
State	Madhya Pradesh
Pincode	462023
Country	IN
Address	68,zone -ii ,m.p.nagar ,bhopal

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 462020003 for M.P.Nagar Bhopal 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 462020003 of IOB Bank, M.P.Nagar Bhopal branch makes the system almost error free and faster. Use of IOB Bank MICR codes for M.P.Nagar Bhopal branch, makes the characters readable even if there are other marks and stamps on it.

A total of 14 branches of Indian Overseas Bank are available with micr code -

>>Area Colony >>Bhopal >>Borda >>Central Power Research Institute Bhopal >>Govindpura >>Katara >>Kolar Road Bhopal >>Lalghat Bhopal >>Lambakheda >>M.P.Nagar Bhopal >>Pipliya Bajkhan >>R.O. Bhopal >>Raisen Road Bhopal >>Rapid Retail Centre Bhopal

MICR code for Indian Overseas Bank M.P.Nagar Bhopal

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 M.P.Nagar Bhopal 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. 462020003 is the MICR code of Overseas Bank for M.P.Nagar Bhopal branch. MICR code for M.P.Nagar Bhopal 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 M.P.Nagar Bhopal is presented in the table alongside.

Use of IOB Bank MICR code for M.P.Nagar Bhopal branch in bhopal

The MICR code 462020003 is used in RBI cheque clearing process to identify the branch M.P.Nagar Bhopal 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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