Indian Overseas Bank Madurai Madurai Tamil Nadu MICR CODE

Find MICR Codes for Indian Overseas Bank Madurai Madurai Tamil Nadu

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MICR Code	625020007
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	Madurai
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 Madurai IOBA0000049

Location	Madurai, Madurai
City	Madurai
District	Madurai
State	Tamil Nadu
Pincode	625001
Country	IN
Address	135, palace road, madurai - 625001

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 625020007 for Madurai 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 625020007 of IOB Bank, Madurai branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Madurai branch, makes the characters readable even if there are other marks and stamps on it.

A total of 36 branches of Indian Overseas Bank are available with micr code -

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MICR code for Indian Overseas Bank Madurai

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 Madurai 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. 625020007 is the MICR code of Overseas Bank for Madurai branch. MICR code for Madurai 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 Madurai is presented in the table alongside.

Use of IOB Bank MICR code for Madurai branch in madurai

The MICR code 625020007 is used in RBI cheque clearing process to identify the branch Madurai 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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