Maharashtra Gramin Bank Pune Pune Maharashtra MICR CODE

Find MICR Codes for Maharashtra Gramin Bank Pune Pune Maharashtra

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MICR Code
Bank Maharashtra Gramin Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Bhugaon
Contact 25344059
Bank Details Maharashtra Gramin Bank Bhugaon MAHG0004620
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode
Country IN
Address House no 862 pune paud road bhugaon po bhugaon taluka mulshi
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 Bhugaon 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 Maha Gramin Bank, Bhugaon branch makes the system almost error free and faster. Use of Maha Gramin Bank MICR codes for Bhugaon branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of Maharashtra Gramin Bank are available with micr code -

>>Bhugaon >>Indapur

MICR code for Maharashtra Gramin Bank Bhugaon

Maharashtra Gramin Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Maha Gramin Bank MICR code for Bhugaon 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 Maharashtra Gramin Bank for Bhugaon branch. MICR code for Bhugaon 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 Maha Gramin Bank Bhugaon is presented in the table alongside.

Use of Maha Gramin Bank MICR code for Bhugaon branch in pune

The MICR code 0 is used in RBI cheque clearing process to identify the branch Bhugaon and Maha Gramin 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 Maharashtra Gramin Bank is typically in either of these two font’s: E-138 and CMC-7.

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