Model Bank Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for Model Bank Mumbai Mumbai Maharashtra

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MICR Code	400807004
Bank	Model Co-Op bank ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Borivli
Contact	22-28922967
Bank Details	Model Co-Op bank ltd Borivli MDBK0000012

Location	Mumbai, Mumbai
City	Mumbai
District	Mumbai
State	Maharashtra
Pincode	400103
Country	IN
Address	Jayshree akshaya bldg,i.c.colony,opp.silver coin rest.borivli west,mumbai 400103

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 400807004 for Borivli 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 400807004 of Model Cooperative Bank Ltd, Borivli branch makes the system almost error free and faster. Use of Model Cooperative Bank Ltd MICR codes for Borivli branch, makes the characters readable even if there are other marks and stamps on it.

A total of 16 branches of Model Co-Op bank ltd are available with micr code -

>>Amboli >>Andheri >>Borivli >>Dahisar >>Fort >>Ghatkopar >>Goregaon >>Kalina >>Kanjur Marg >>Mahim >>Malad >>Mulund >>Neft Service Center >>Rtgsho >>Sakinaka >>Vikhroli

MICR code for Model Bank Borivli

Model Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Model Cooperative Bank Ltd MICR code for Borivli 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. 400807004 is the MICR code of Model Co Op Bank Ltd for Borivli branch. MICR code for Borivli 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 Model Cooperative Bank Ltd Borivli is presented in the table alongside.

Use of Model Cooperative Bank Ltd MICR code for Borivli branch in mumbai

The MICR code 400807004 is used in RBI cheque clearing process to identify the branch Borivli and Model Cooperative Bank Ltd 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 Model Co Op Bank Ltd is typically in either of these two font’s: E-138 and CMC-7.

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