Indusind Bank Madgoan South Goa Goa MICR CODE

Find MICR Codes for Indusind Bank Madgoan South Goa Goa

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MICR Code	403234003
Bank	Indusind Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Madgoan
Contact	0832 2712238 - 42 2712295
Bank Details	Indusind Bank Ltd Madgoan INDB0000084

Location	Madgoan, South Goa
City	Madgoan
District	South Goa
State	Goa
Pincode	403601
Country	IN
Address	Chaze art galleryrua abade faria road, margao 403 601

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 403234003 for Madgoan 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 403234003 of Indus Bank, Madgoan branch makes the system almost error free and faster. Use of Indus Bank MICR codes for Madgoan branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Indusind Bank Ltd are available with micr code -

>>Madgoan

MICR code for Indusind Bank Madgoan

Indusind Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Indus Bank MICR code for Madgoan 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. 403234003 is the MICR code of Indusind Bank for Madgoan branch. MICR code for Madgoan 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 Indus Bank Madgoan is presented in the table alongside.

Use of Indus Bank MICR code for Madgoan branch in madgoan

The MICR code 403234003 is used in RBI cheque clearing process to identify the branch Madgoan and Indus 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 Indusind Bank is typically in either of these two font’s: E-138 and CMC-7.

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