Maharashtra Gramin Bank Beed Morewadi Maharashtra MICR CODE

Find MICR Codes for Maharashtra Gramin Bank Beed Morewadi Maharashtra

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MICR Code	431570696
Bank	Maharashtra Gramin Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Morewadi
Contact	246088
Bank Details	Maharashtra Gramin Bank Morewadi MAHG0004553

Location	Beed, Morewadi
City	Beed
District	Morewadi
State	Maharashtra
Pincode	431517
Country	IN
Address	At morewadi tq ambajogai dist beed

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 431570696 for Morewadi 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 431570696 of Maha Gramin Bank, Morewadi branch makes the system almost error free and faster. Use of Maha Gramin Bank MICR codes for Morewadi branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Maharashtra Gramin Bank are available with micr code -

>>Morewadi

MICR code for Maharashtra Gramin Bank Morewadi

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 Morewadi 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. 431570696 is the MICR code of Maharashtra Gramin Bank for Morewadi branch. MICR code for Morewadi 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 Morewadi is presented in the table alongside.

Use of Maha Gramin Bank MICR code for Morewadi branch in beed

The MICR code 431570696 is used in RBI cheque clearing process to identify the branch Morewadi 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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