Indusind Bank Sas Nagar Mohali Rupnagar Punjab MICR CODE

Find MICR Codes for Indusind Bank Sas Nagar Mohali Rupnagar Punjab

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MICR Code	160234032
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	Mohali Phase
Contact	4935600
Bank Details	Indusind Bank Ltd Mohali Phase INDB0001023

Location	Sas Nagar Mohali, Rupnagar
City	Sas Nagar Mohali
District	Rupnagar
State	Punjab
Pincode	140308
Country	IN
Address	Ground floor scf 63 scf 64 phase 7 sas nagar mohali

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 160234032 for Mohali Phase 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 160234032 of Indus Bank, Mohali Phase branch makes the system almost error free and faster. Use of Indus Bank MICR codes for Mohali Phase branch, makes the characters readable even if there are other marks and stamps on it.

A total of 3 branches of Indusind Bank Ltd are available with micr code -

>>Mohali Phase >>Sector Seventy Mohali >>Sector Sixty Seven Mohali

MICR code for Indusind Bank Mohali Phase

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 Mohali Phase 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. 160234032 is the MICR code of Indusind Bank for Mohali Phase branch. MICR code for Mohali Phase 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 Mohali Phase is presented in the table alongside.

Use of Indus Bank MICR code for Mohali Phase branch in sas nagar mohali

The MICR code 160234032 is used in RBI cheque clearing process to identify the branch Mohali Phase 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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