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	110020059
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	Vasantvihar
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 Vasantvihar IOBA0001599

Location	Delhi, New Delhi
City	Delhi
District	New Delhi
State	New Delhi
Pincode	110057
Country	IN
Address	F - 75 poorvi marg,vasantvihar,new delhi-110057

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 110020059 for Vasantvihar 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 110020059 of IOB Bank, Vasantvihar branch makes the system almost error free and faster. Use of IOB Bank MICR codes for Vasantvihar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 57 branches of Indian Overseas Bank are available with micr code -

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MICR code for Indian Overseas Bank Vasantvihar

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 Vasantvihar 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. 110020059 is the MICR code of Overseas Bank for Vasantvihar branch. MICR code for Vasantvihar 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 Vasantvihar is presented in the table alongside.

Use of IOB Bank MICR code for Vasantvihar branch in delhi

The MICR code 110020059 is used in RBI cheque clearing process to identify the branch Vasantvihar 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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