Indian Overseas Bank Nagpur Nagpur Maharashtra MICR CODE

Find MICR Codes for Indian Overseas Bank Nagpur Nagpur Maharashtra

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MICR Code	440020002
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	Nagpur
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 Nagpur IOBA0000302

Location	Nagpur, Nagpur
City	Nagpur
District	Nagpur
State	Maharashtra
Pincode	440010
Country	IN
Address	Plot no. 124 ground floor, ramdas peth maharaj baugh road nagpur pin : 440010

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 440020002 for Nagpur 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 440020002 of IOB Bank, Nagpur branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Nagpur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 15 branches of Indian Overseas Bank are available with micr code -

>>Arm Branch Nagpur >>Friends Colony Nagpur >>Hanuman Nagar Nagpur >>Harihar Mandir Nagpur >>Hingna Road Nagpur >>Hudkeshwar Nagpur >>Jaripatka >>Katol >>Nagpur >>Nagpur Gandhibagh >>Nagpur Sadar >>Pandey Layout Nagpur >>R.O.Nagpur >>Ramnagar Nagpur >>Rrc Nagpur

MICR code for Indian Overseas Bank Nagpur

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 Nagpur 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. 440020002 is the MICR code of Overseas Bank for Nagpur branch. MICR code for Nagpur 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 Nagpur is presented in the table alongside.

Use of IOB Bank MICR code for Nagpur branch in nagpur

The MICR code 440020002 is used in RBI cheque clearing process to identify the branch Nagpur 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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