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 New Panvel Sector Nineteen
Contact 22-66006022
Bank Details Kotak Mahindra Bank New Panvel Sector Nineteen KKBK0002064
Location Panvel, Raigad
City Panvel
District Raigad
State Maharashtra
Pincode 410206
Country IN
Address Ground floor shop no 1 and 2 prajapati house plot no 13 sector 19 panvel matheran road new panvel navi mumbai 410206
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 0 for New Panvel Sector Nineteen 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 0 of Kotak Mahindra Bank, New Panvel Sector Nineteen branch makes the system almost error free and faster. Use of Kotak Mahindra Bank MICR codes for New Panvel Sector Nineteen 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 New Panvel Sector Nineteen

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 New Panvel Sector Nineteen 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. 0 is the MICR code of Kotak Bank for New Panvel Sector Nineteen branch. MICR code for New Panvel Sector Nineteen 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 New Panvel Sector Nineteen is presented in the table alongside.

Use of Kotak Mahindra Bank MICR code for New Panvel Sector Nineteen branch in panvel

The MICR code 0 is used in RBI cheque clearing process to identify the branch New Panvel Sector Nineteen 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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