Ratnakar Bank Bagalkot Bagalkote Karnataka MICR CODE

Find MICR Codes for Ratnakar Bank Bagalkot Bagalkote Karnataka

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MICR Code
Bank Ratnakar Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Bagalkot
Contact 9901794037
Bank Details Ratnakar Bank Ltd Bagalkot RATN0000121
Location Bagalkot, Bagalkote
City Bagalkot
District Bagalkote
State Karnataka
Pincode 587101
Country IN
Address The ratnakar bank ltd,no.163/2a,near lions school,bagalkot - 587101
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 587176102 for Bagalkot 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 587176102 of Ratnakar Bank, Bagalkot branch makes the system almost error free and faster. Use of Ratnakar Bank MICR codes for Bagalkot branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Ratnakar Bank Ltd are available with micr code -

>>Bagalkot

MICR code for Ratnakar Bank Bagalkot

Ratnakar Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Ratnakar Bank MICR code for Bagalkot 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. 587176102 is the MICR code of Ratnakar Bank for Bagalkot branch. MICR code for Bagalkot 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 Ratnakar Bank Bagalkot is presented in the table alongside.

Use of Ratnakar Bank MICR code for Bagalkot branch in bagalkot

The MICR code 587176102 is used in RBI cheque clearing process to identify the branch Bagalkot and Ratnakar 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 Ratnakar Bank is typically in either of these two font’s: E-138 and CMC-7.

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