Ratnakar Bank Mumbai Greater Bombay Maharashtra MICR CODE

Find MICR Codes for Ratnakar Bank Mumbai Greater Bombay Maharashtra

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MICR Code	-NA-
Bank	Ratnakar Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Lower Parel
Contact	022 22703638 Fax 022 22703635
Bank Details	Ratnakar Bank Ltd Lower Parel RATN0000088

Location	Mumbai, Greater Bombay
City	Mumbai
District	Greater Bombay
State	Maharashtra
Pincode	400013
Country	IN
Address	Indiabulls center, tower 2,3rd floor,841,senapati bapat, margmumbai-400013

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

A total of 14 branches of Ratnakar Bank Ltd are available with micr code -

>>Badlapur >>Boriwali Mumbai >>Corporate Office >>Corporate Office (Ib Branch) >>Dadar Mumbai >>Fort >>Fort Mumbai >>Girgaum Mumbai >>Kandiwali Mumbai >>Lower Parel >>Service Branch Mumbai >>The Ratnakar Bank Ltd >>Vashi Navi Mumbai >>Vile Parle Mumbai

MICR code for Ratnakar Bank Lower Parel

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 Lower Parel 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 Ratnakar Bank for Lower Parel branch. MICR code for Lower Parel 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 Lower Parel is presented in the table alongside.

Use of Ratnakar Bank MICR code for Lower Parel branch in mumbai

The MICR code 0 is used in RBI cheque clearing process to identify the branch Lower Parel 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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