MICR codes for Indian Overseas Bank in raigad are given in the table alongside. Details like address and contact numbers are also provided along with the MICR code. Narrow down your search either by selecting any particular city from the drop down list or by selecting the city from IOB Bank MICR codes list in raigad given on the right side. You can find MICR codes for all Overseas Bank raigad district of Maharashtra state here.
Indian Overseas Bank MICR code for raigad is used in banking industry for processing cheques and MICR stands for Magnetic Ink Character Recognition. It is used to identify the bank branch to which the cheque belongs. When a cheque goes for clearing, this code is read by a magnetic reader and then automatically sorted. MICR technology speeds up the whole process compared to manual reading and sorting. MICR code for IOB Bank raigad branches is present at the bottom of every cheque leaf.
IOB Bank MICR code for raigad is a standard 9 digit code. The MICR number can have only 14 characters viz. the numbers 0-9 and for special symbols- transit, amount, on-us, and dash. Indian Overseas Bank MICR code for Maharashtra branches comprises of the document type indicator, bank code, cheque number, etc. Overseas Bank Maharashtra MICR code uses typically either of these two fonts E-138 and CMC-7. The MICR technology makes the characters readable even if they are obscured by stamps and signatures. This code is used By Reserve bank Of India in clearing process to identify the branch and bank.