Indian Overseas Bank New Delhi South New Delhi MICR CODE

Find MICR Codes for Indian Overseas Bank New Delhi South New Delhi

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MICR Code
Bank Indian Overseas Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Mehrauli New Delhi
Contact 011-25761904,25810779
Bank Details Indian Overseas Bank Mehrauli New Delhi IOBA0002444
Location New Delhi, South
City New Delhi
District South
State New Delhi
Pincode 110030
Country IN
Address Ground floor, 893-a/8 main bazar, mehrauli delhi - 110030
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 110020116 for Mehrauli New Delhi 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 110020116 of IOB Bank, Mehrauli New Delhi branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Mehrauli New Delhi branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Indian Overseas Bank are available with micr code -

>>Mehrauli New Delhi

MICR code for Indian Overseas Bank Mehrauli New Delhi

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 Mehrauli New Delhi 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. 110020116 is the MICR code of Overseas Bank for Mehrauli New Delhi branch. MICR code for Mehrauli New Delhi 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 Mehrauli New Delhi is presented in the table alongside.

Use of IOB Bank MICR code for Mehrauli New Delhi branch in new delhi

The MICR code 110020116 is used in RBI cheque clearing process to identify the branch Mehrauli New Delhi 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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