Indusind Bank Mohali Rupnagar Punjab MICR CODE

Find MICR Codes for Indusind Bank Mohali Rupnagar Punjab

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MICR Code	160234020
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	Sector 54 Phase 2 Mohali
Contact	4604738
Bank Details	Indusind Bank Ltd Sector 54 Phase 2 Mohali INDB0000621

Location	Mohali, Rupnagar
City	Mohali
District	Rupnagar
State	Punjab
Pincode	160054
Country	IN
Address	Sco 46 sector 54 phase 2 sas nagar mohali punjab 160 054

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 160234020 for Sector 54 Phase 2 Mohali 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 160234020 of Indus Bank, Sector 54 Phase 2 Mohali branch makes the system almost error free and faster. Use of Indus Bank MICR codes for Sector 54 Phase 2 Mohali 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 -

>>Sector 54 Phase 2 Mohali

MICR code for Indusind Bank Sector 54 Phase 2 Mohali

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 Sector 54 Phase 2 Mohali 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. 160234020 is the MICR code of Indusind Bank for Sector 54 Phase 2 Mohali branch. MICR code for Sector 54 Phase 2 Mohali 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 Sector 54 Phase 2 Mohali is presented in the table alongside.

Use of Indus Bank MICR code for Sector 54 Phase 2 Mohali branch in mohali

The MICR code 160234020 is used in RBI cheque clearing process to identify the branch Sector 54 Phase 2 Mohali 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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