Indian Overseas Bank Rangareddy Rangareddy Andhra Pradesh MICR CODE

Find MICR Codes for Indian Overseas Bank Rangareddy Rangareddy Andhra Pradesh

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MICR Code
Bank Indian Overseas Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Miyapur
Contact 040-23040524
Bank Details Indian Overseas Bank Miyapur IOBA0002175
Location Rangareddy, Rangareddy
City Rangareddy
District Rangareddy
State Andhra Pradesh
Pincode 500049
Country IN
Address Plot no. 24a, b & 25, ground floor temple road, madinaguda, miyapur hyderabad pin : 500049
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 500020036 for Miyapur 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 500020036 of IOB Bank, Miyapur branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Miyapur 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 -

>>Miyapur

MICR code for Indian Overseas Bank Miyapur

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 Miyapur 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. 500020036 is the MICR code of Overseas Bank for Miyapur branch. MICR code for Miyapur 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 Miyapur is presented in the table alongside.

Use of IOB Bank MICR code for Miyapur branch in rangareddy

The MICR code 500020036 is used in RBI cheque clearing process to identify the branch Miyapur 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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