Indian Overseas Bank Parlakhemundi Gajapati Orissa MICR CODE

Find MICR Codes for Indian Overseas Bank Parlakhemundi Gajapati Orissa

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State
District
City
Branch
Address

MICR Code	-NA-
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	Paralakhemundi
Contact
Bank Details	Indian Overseas Bank Paralakhemundi IOBA0002733

Location	Parlakhemundi, Gajapati
City	Parlakhemundi
District	Gajapati
State	Orissa
Pincode	761200
Country	IN
Address	Krishna plaza near krishna cinema hall paralakhemundi gajapati 761200

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 0 for Paralakhemundi 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 0 of IOB Bank, Paralakhemundi branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Paralakhemundi 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 -

>>Paralakhemundi

MICR code for Indian Overseas Bank Paralakhemundi

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 Paralakhemundi 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. 0 is the MICR code of Overseas Bank for Paralakhemundi branch. MICR code for Paralakhemundi 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 Paralakhemundi is presented in the table alongside.

Use of IOB Bank MICR code for Paralakhemundi branch in parlakhemundi

The MICR code 0 is used in RBI cheque clearing process to identify the branch Paralakhemundi 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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