Indian Overseas Bank Secunderabad Cantonment Hyderabad Urban Andhra Pradesh MICR CODE

Find MICR Codes for Indian Overseas Bank Secunderabad Cantonment Hyderabad Urban Andhra Pradesh

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MICR Code	500020009
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	Secunderabad
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 Secunderabad IOBA0000200

Location	Secunderabad Cantonment, Hyderabad Urban
City	Secunderabad Cantonment
District	Hyderabad Urban
State	Andhra Pradesh
Pincode	500003
Country	IN
Address	Chandralok bldg complex, m g road, secunderabad 500003

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 500020009 for Secunderabad 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 500020009 of IOB Bank, Secunderabad branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Secunderabad branch, makes the characters readable even if there are other marks and stamps on it.

A total of 6 branches of Indian Overseas Bank are available with micr code -

>>Alwal >>Loyola Academy >>Padmarao Nagar >>R P Road >>Secunderabad >>Secunderabad Sainikpuri

MICR code for Indian Overseas Bank Secunderabad

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 Secunderabad 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. 500020009 is the MICR code of Overseas Bank for Secunderabad branch. MICR code for Secunderabad 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 Secunderabad is presented in the table alongside.

Use of IOB Bank MICR code for Secunderabad branch in secunderabad cantonment

The MICR code 500020009 is used in RBI cheque clearing process to identify the branch Secunderabad 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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