Punjab And Maharashtra Bank Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for Punjab And Maharashtra Bank Mumbai Mumbai Maharashtra

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MICR Code	400328002
Bank	Punjab And Maharashtra Co-Op Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Sion
Contact	24095158/ 5174
Bank Details	Punjab And Maharashtra Co-Op Bank Ltd Sion PMCB0000002

Location	Mumbai, Mumbai
City	Mumbai
District	Mumbai
State	Maharashtra
Pincode	400022
Country	IN
Address	240, shankar sadan,'sion (east),mumbai 400 022

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 400328002 for Sion 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 400328002 of Punjab Maharashtra Bank, Sion branch makes the system almost error free and faster. Use of Punjab Maharashtra Bank MICR codes for Sion branch, makes the characters readable even if there are other marks and stamps on it.

A total of 14 branches of Punjab And Maharashtra Co-Op Bank Ltd are available with micr code -

>>Andheri >>Bandra >>Bhandup >>Carnac >>Chembur >>Dadar >>Fort >>Ghatkopar >>Kandivili >>Mulund >>Oshiwara >>Sion >>Versova >>Vikhroli

MICR code for Punjab And Maharashtra Bank Sion

Punjab And Maharashtra Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Punjab Maharashtra Bank MICR code for Sion 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. 400328002 is the MICR code of Punjab And Maharashtra Coop Bank for Sion branch. MICR code for Sion 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 Maharashtra Bank Sion is presented in the table alongside.

Use of Punjab Maharashtra Bank MICR code for Sion branch in mumbai

The MICR code 400328002 is used in RBI cheque clearing process to identify the branch Sion and Punjab Maharashtra 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 Punjab And Maharashtra Coop Bank is typically in either of these two font’s: E-138 and CMC-7.

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