Indian Overseas Bank Neori Ranchi Jharkhand MICR CODE

Find MICR Codes for Indian Overseas Bank Neori Ranchi Jharkhand

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MICR Code	834020007
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	Neori
Contact	0651 -2275889
Bank Details	Indian Overseas Bank Neori IOBA0000783

Location	Neori, Ranchi
City	Neori
District	Ranchi
State	Jharkhand
Pincode	835217
Country	IN
Address	Vikas vidyalaya ,neori pin : 835217

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 834020007 for Neori 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 834020007 of IOB Bank, Neori branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Neori branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Indian Overseas Bank are available with micr code -

>>Dumardaga >>Neori

MICR code for Indian Overseas Bank Neori

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 Neori 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. 834020007 is the MICR code of Overseas Bank for Neori branch. MICR code for Neori 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 Neori is presented in the table alongside.

Use of IOB Bank MICR code for Neori branch in neori

The MICR code 834020007 is used in RBI cheque clearing process to identify the branch Neori 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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