Ratnakar Bank Mumbai Greater Bombay Maharashtra MICR CODE

Find MICR Codes for Ratnakar Bank Mumbai Greater Bombay Maharashtra

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MICR Code
Bank Ratnakar Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Dadar Mumbai
Contact 43020600
Bank Details Ratnakar Bank Ltd Dadar Mumbai RATN0000184
Location Mumbai, Greater Bombay
City Mumbai
District Greater Bombay
State Maharashtra
Pincode 400028
Country IN
Address The ratnakar bank ltd,plot n0-399,gokhale road south ,opp bmc school,dadar west mumbai-400028
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 400176025 for Dadar Mumbai 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 400176025 of Ratnakar Bank, Dadar Mumbai branch makes the system almost error free and faster. Use of Ratnakar Bank MICR codes for Dadar Mumbai branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Ratnakar Bank Dadar Mumbai

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 Dadar Mumbai 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. 400176025 is the MICR code of Ratnakar Bank for Dadar Mumbai branch. MICR code for Dadar Mumbai 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 Dadar Mumbai is presented in the table alongside.

Use of Ratnakar Bank MICR code for Dadar Mumbai branch in mumbai

The MICR code 400176025 is used in RBI cheque clearing process to identify the branch Dadar Mumbai 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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