PNB Margao South Goa Goa MICR CODE

Find MICR Codes for PNB Margao South Goa Goa

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MICR Code	403024004
Bank	Punjab National Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Margaon
Contact	832-2715468-2712691 Joseph Thomas V
Bank Details	Punjab National Bank Margaon PUNB0253100

Location	Margao, South Goa
City	Margao
District	South Goa
State	Goa
Pincode	403601
Country	IN
Address	Timbko building, new market, margaon, goa

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 403024004 for Margaon 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 403024004 of Punjab National Bank , Margaon branch makes the system almost error free and faster. Use of Punjab National Bank MICR codes for Margaon branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Punjab National Bank are available with micr code -

>>Margaon

MICR code for PNB Margaon

PNB MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Punjab National Bank MICR code for Margaon 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. 403024004 is the MICR code of PNB Bank for Margaon branch. MICR code for Margaon 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 Punjab National Bank Margaon is presented in the table alongside.

Use of Punjab National Bank MICR code for Margaon branch in margao

The MICR code 403024004 is used in RBI cheque clearing process to identify the branch Margaon and Punjab National 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 PNB Bank is typically in either of these two font’s: E-138 and CMC-7.

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