PNB Gwalior Gwalior Madhya Pradesh MICR CODE

Find MICR Codes for PNB Gwalior Gwalior Madhya Pradesh

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MICR Code	474024001
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	New Bazaar
Contact	0751-2321017,2320645 S P Sharma
Bank Details	Punjab National Bank New Bazaar PUNB0029000

Location	Gwalior, Gwalior
City	Gwalior
District	Gwalior
State	Madhya Pradesh
Pincode	474004
Country	IN
Address	New bazaar, gwalior, mp 474004

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 474024001 for New Bazaar 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 474024001 of Punjab National Bank , New Bazaar branch makes the system almost error free and faster. Use of Punjab National Bank MICR codes for New Bazaar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 24 branches of Punjab National Bank are available with micr code -

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MICR code for PNB New Bazaar

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 New Bazaar 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. 474024001 is the MICR code of PNB Bank for New Bazaar branch. MICR code for New Bazaar 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 New Bazaar is presented in the table alongside.

Use of Punjab National Bank MICR code for New Bazaar branch in gwalior

The MICR code 474024001 is used in RBI cheque clearing process to identify the branch New Bazaar 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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