Indian Overseas Bank Kolkata Kolkata West Bengal MICR CODE

Find MICR Codes for Indian Overseas Bank Kolkata Kolkata West Bengal

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MICR Code
Bank Indian Overseas Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch New Alipore
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 New Alipore IOBA0000178
Location Kolkata, Kolkata
City Kolkata
District Kolkata
State West Bengal
Pincode 700053
Country IN
Address P-23a, 594,'tolasaria sadan' , diamond harbour road, block-'o',kolkata -7000 53. Phone : 24000059/24000682.
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 700020011 for New Alipore 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 700020011 of IOB Bank, New Alipore branch makes the system almost error free and faster. Use of IOB Bank MICR codes for New Alipore branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Indian Overseas Bank New Alipore

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 New Alipore 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. 700020011 is the MICR code of Overseas Bank for New Alipore branch. MICR code for New Alipore 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 New Alipore is presented in the table alongside.

Use of IOB Bank MICR code for New Alipore branch in kolkata

The MICR code 700020011 is used in RBI cheque clearing process to identify the branch New Alipore 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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