Ratnakar Bank Madilge Kolhapur Maharashtra MICR CODE

Find MICR Codes for Ratnakar Bank Madilge Kolhapur 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	Madilge
Contact	02323-241176
Bank Details	Ratnakar Bank Ltd Madilge RATN0000051

Location	Madilge, Kolhapur
City	Madilge
District	Kolhapur
State	Maharashtra
Pincode	416505
Country	IN
Address	A/p: madilge - 416 505. Tal.ajara, dist.kolhapur.

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 Madilge 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, Madilge branch makes the system almost error free and faster. Use of Ratnakar Bank MICR codes for Madilge 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 -

>>Madilge

MICR code for Ratnakar Bank Madilge

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 Madilge 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 Madilge branch. MICR code for Madilge 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 Madilge is presented in the table alongside.

Use of Ratnakar Bank MICR code for Madilge branch in madilge

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