PNB Pune Pune Maharashtra MICR CODE

Find MICR Codes for PNB Pune Pune Maharashtra

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MICR Code
Bank Punjab National Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Retail Loans Hub Pune
Contact 020-26334511,2633699
Bank Details Punjab National Bank Retail Loans Hub Pune PUNB0522500
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode 411002
Country IN
Address 564 sada shiv chambers, nana peth, pune, maharashtra 411002
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 Retail Loans Hub Pune 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 Punjab National Bank , Retail Loans Hub Pune branch makes the system almost error free and faster. Use of Punjab National Bank MICR codes for Retail Loans Hub Pune branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for PNB Retail Loans Hub Pune

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 Retail Loans Hub Pune 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 PNB Bank for Retail Loans Hub Pune branch. MICR code for Retail Loans Hub Pune 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 Retail Loans Hub Pune is presented in the table alongside.

Use of Punjab National Bank MICR code for Retail Loans Hub Pune branch in pune

The MICR code 0 is used in RBI cheque clearing process to identify the branch Retail Loans Hub Pune 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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