Indian Overseas Bank Delhi New Delhi New Delhi MICR CODE

Find MICR Codes for Indian Overseas Bank Delhi New Delhi New Delhi

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MICR Code
Bank Indian Overseas Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Parliament Street. New Delhi.
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 Parliament Street. New Delhi. IOBA0000762
Location Delhi, New Delhi
City Delhi
District New Delhi
State New Delhi
Pincode 110001
Country IN
Address 10, jeevan deep building,parliament street,new delhi-110001
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 110020013 for Parliament Street. New Delhi. 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 110020013 of IOB Bank, Parliament Street. New Delhi. branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Parliament Street. New Delhi. branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Indian Overseas Bank Parliament Street. New Delhi.

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 Parliament Street. New Delhi. 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. 110020013 is the MICR code of Overseas Bank for Parliament Street. New Delhi. branch. MICR code for Parliament Street. New Delhi. 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 Parliament Street. New Delhi. is presented in the table alongside.

Use of IOB Bank MICR code for Parliament Street. New Delhi. branch in delhi

The MICR code 110020013 is used in RBI cheque clearing process to identify the branch Parliament Street. New Delhi. 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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