Kotak Bank Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for Kotak Bank Panvel Raigad Maharashtra

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MICR Code
Bank Kotak Mahindra Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Kokan Mercantile Co Op Bank Ltd Panvel
Contact 022 23723753
Bank Details Kotak Mahindra Bank Kokan Mercantile Co Op Bank Ltd Panvel KKBK0KMCB14
Location Panvel, Raigad
City Panvel
District Raigad
State Maharashtra
Pincode 410206
Country IN
Address Kokan mercantile co-op bank ltd panvel gala#143, bldg# 1&2,panvel nagar parishad shopping centre, near panvel tehsildar office, panvel,dist.raigad.
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 400075014 for Kokan Mercantile Co Op Bank Ltd Panvel 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 400075014 of Kotak Mahindra Bank, Kokan Mercantile Co Op Bank Ltd Panvel branch makes the system almost error free and faster. Use of Kotak Mahindra Bank MICR codes for Kokan Mercantile Co Op Bank Ltd Panvel branch, makes the characters readable even if there are other marks and stamps on it.

A total of 3 branches of Kotak Mahindra Bank are available with micr code -

>>Kokan Mercantile Co Op Bank Ltd Panvel >>New Panvel Sector Nineteen >>Panvel Branch

MICR code for Kotak Bank Kokan Mercantile Co Op Bank Ltd Panvel

Kotak Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Kotak Mahindra Bank MICR code for Kokan Mercantile Co Op Bank Ltd Panvel 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. 400075014 is the MICR code of Kotak Bank for Kokan Mercantile Co Op Bank Ltd Panvel branch. MICR code for Kokan Mercantile Co Op Bank Ltd Panvel 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 Kotak Mahindra Bank Kokan Mercantile Co Op Bank Ltd Panvel is presented in the table alongside.

Use of Kotak Mahindra Bank MICR code for Kokan Mercantile Co Op Bank Ltd Panvel branch in panvel

The MICR code 400075014 is used in RBI cheque clearing process to identify the branch Kokan Mercantile Co Op Bank Ltd Panvel and Kotak Mahindra 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 Kotak Bank is typically in either of these two font’s: E-138 and CMC-7.

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