New India Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. New India Co Op Bank MICR code for Lower Parel 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. 400085027 is the MICR code of New India Co Operative Bank for Lower Parel branch. MICR code for Lower Parel 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 New India Co Op Bank Lower Parel is presented in the table alongside.
The MICR code 400085027 is used in RBI cheque clearing process to identify the branch Lower Parel and New India Co Op 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 New India Co Operative Bank is typically in either of these two font’s: E-138 and CMC-7.