Indian Overseas Bank Ludhiana Ludhiana Punjab MICR CODE

Find MICR Codes for Indian Overseas Bank Ludhiana Ludhiana Punjab

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MICR Code	141020010
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	Millerganj
Contact	P Suresh Kumar, Senior Manager, Indian Overseas Bank, Funds Department, Central Office,
Bank Details	Indian Overseas Bank Millerganj IOBA0001590

Location	Ludhiana, Ludhiana
City	Ludhiana
District	Ludhiana
State	Punjab
Pincode	141003
Country	IN
Address	B - xv - 141, opp fire brigade, g t road, millerganj, ludhiana, 141003

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 141020010 for Millerganj 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 141020010 of IOB Bank, Millerganj branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Millerganj branch, makes the characters readable even if there are other marks and stamps on it.

A total of 19 branches of Indian Overseas Bank are available with micr code -

>>Arya College Ludhiana >>Baranhara >>Brown Road Ludhiana. >>Cbo Ludhiana >>Civil Lines Ludhiana. >>Cmc Ludhiana >>Industrial Area Ludhiana. >>Ludhiana >>Ludhiana Bhadaur House >>Mid Corporate Ludhiana >>Millerganj >>Model Town Ludhiana >>Msme Processing Centre >>Pakhowal Road.Ludhiana. >>R.O.Ludhiana >>Rahon Road >>Rishi Nagar >>Sbs Nagar Ludhiana >>Sunder Nagar

MICR code for Indian Overseas Bank Millerganj

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 Millerganj 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. 141020010 is the MICR code of Overseas Bank for Millerganj branch. MICR code for Millerganj 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 Millerganj is presented in the table alongside.

Use of IOB Bank MICR code for Millerganj branch in ludhiana

The MICR code 141020010 is used in RBI cheque clearing process to identify the branch Millerganj 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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