Indian Overseas Bank Patna Patna Bihar MICR CODE

Find MICR Codes for Indian Overseas Bank Patna Patna Bihar

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MICR Code
Bank Indian Overseas Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Shastri Nagar Patna
Contact P Suresh Kumar, Senior Manager, Indian Overseas Bank, Funds Department, Central Office,
Bank Details Indian Overseas Bank Shastri Nagar Patna IOBA0001512
Location Patna, Patna
City Patna
District Patna
State Bihar
Pincode 800023
Country IN
Address Beltron bhavan;shastri nagar;patna;800023
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 80002004 for Shastri Nagar Patna 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 80002004 of IOB Bank, Shastri Nagar Patna branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Shastri Nagar Patna branch, makes the characters readable even if there are other marks and stamps on it.

A total of 13 branches of Indian Overseas Bank are available with micr code -

>>Bihta >>Boring Road >>C B O Patna >>Exhibition Road >>Kankarbagh Colony >>Khaspur >>Kothawan >>Patna >>R R C Patna >>R.O.Patna >>Saguna More >>Shastri Nagar Patna >>Shiksha Bhawan Patna

MICR code for Indian Overseas Bank Shastri Nagar Patna

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 Shastri Nagar Patna 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. 80002004 is the MICR code of Overseas Bank for Shastri Nagar Patna branch. MICR code for Shastri Nagar Patna 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 Shastri Nagar Patna is presented in the table alongside.

Use of IOB Bank MICR code for Shastri Nagar Patna branch in patna

The MICR code 80002004 is used in RBI cheque clearing process to identify the branch Shastri Nagar Patna 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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