Indian Overseas Bank Panayampally Erode Tamil Nadu MICR CODE

Find MICR Codes for Indian Overseas Bank Panayampally Erode Tamil Nadu

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MICR Code
Bank Indian Overseas Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Panayampalli
Contact 04295 -267098
Bank Details Indian Overseas Bank Panayampalli IOBA0001069
Location Panayampally, Erode
City Panayampally
District Erode
State Tamil Nadu
Pincode 638459
Country IN
Address 2/109 sathy illam, panayampalli sathyamangalam taluk panayampalli pin : 638459
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.

Search Indian Overseas Bank MICR Codes in erode

You can search through MICR Codes of Tamil Nadu branches in panayampally of District erode in Tamil Nadu State by using the search box or you can browse through the table using the conrols at the bottom.

A total of 1 branches of Indian Overseas Bank are available with micr code -

>>Panayampalli

How to find MICR codes for Indian Overseas Bank in panayampally?

Indian Overseas Bank panayampally MICR codes are given in the table alongside. Details including address and contact numbers are also provided. From IOB Bank MICR codes list for panayampally, one can further search by branch name specified in the table. You can find MICR codes for all Indian Overseas Bank panayampally branches.

IOB Bank MICR code in panayampally

Indian Overseas Bank MICR code is a character recognition technology used by banks in the processing of cheques. IOB Bank MICR code for panayampally branches includes document type indicator, bank code, cheque number, etc. This code is printed in either of the two fonts E-138 and CMC-7 using a magnetic ink or toner, usually containing iron oxide. The MICR code for Overseas Bank branches in panayampally, is used to identify the bank branch to which the cheque belongs. It is used by RBI for clearance of cheques.

How does Overseas Bank MICR code for panayampally branches speed up the processing of cheques?

In manual clearing of cheques, there is a possibility of many errors and a long delay is involved. The characters of MICR code for a Indian Overseas Bank panayampally branch, sprinted 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. Thus MICR code for IOB Bank panayampally branches speeds up the processing of cheque as it reduces manual effort of sorting. Use of Overseas Bank MICR codes for panayampally branches, makes the characters readable even if there are other marks and stamps on it. This makes the system almost error proof!

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