Nashik Merchant Bank Mumbai New Mumbai Maharashtra MICR CODE

Find MICR Codes for Nashik Merchant Bank Mumbai New Mumbai Maharashtra

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MICR Code
Bank The Nasik Merchants Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Vashi Branch
Contact 022-27664740
Bank Details The Nasik Merchants Co-Op Bank Ltd Vashi Branch NMCB0000065
Location Mumbai, New Mumbai
City Mumbai
District New Mumbai
State Maharashtra
Pincode 400703
Country IN
Address K 30 masala market ,a p m c, market no 1, fej 2 ,vashi, new mumbai - 400703
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 Vashi Branch 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 NAMCO Bank, Vashi Branch branch makes the system almost error free and faster. Use of NAMCO Bank MICR codes for Vashi Branch branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of The Nasik Merchants Co-Op Bank Ltd are available with micr code -

>>Vashi Branch

MICR code for Nashik Merchant Bank Vashi Branch

Nashik Merchant Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. NAMCO Bank MICR code for Vashi Branch 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 Nashik Merchant Cooperative Bank for Vashi Branch branch. MICR code for Vashi Branch 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 NAMCO Bank Vashi Branch is presented in the table alongside.

Use of NAMCO Bank MICR code for Vashi Branch branch in mumbai

The MICR code 0 is used in RBI cheque clearing process to identify the branch Vashi Branch and NAMCO 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 Nashik Merchant Cooperative Bank is typically in either of these two font’s: E-138 and CMC-7.

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