Ratnakar Bank Greater Bombay Greater Bombay Maharashtra MICR CODE

Find MICR Codes for Ratnakar Bank Greater Bombay 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 Mumbai Nariman Point
Contact 9833666862
Bank Details Ratnakar Bank Ltd Mumbai Nariman Point RATN0000155
Location Greater Bombay, Greater Bombay
City Greater Bombay
District Greater Bombay
State Maharashtra
Pincode 400021
Country IN
Address The ratnakar bank ltd,office no./a, ground floor, mittal court, 224 nariman point, mumbai-400021
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 400176023 for Mumbai Nariman Point 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 400176023 of Ratnakar Bank, Mumbai Nariman Point branch makes the system almost error free and faster. Use of Ratnakar Bank MICR codes for Mumbai Nariman Point branch, makes the characters readable even if there are other marks and stamps on it.

A total of 6 branches of Ratnakar Bank Ltd are available with micr code -

>>Crawford Market >>Malad West >>Mumbai Juhu >>Mumbai Nariman Point >>Noc Goregaon >>Santacruz West

MICR code for Ratnakar Bank Mumbai Nariman Point

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 Mumbai Nariman Point 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. 400176023 is the MICR code of Ratnakar Bank for Mumbai Nariman Point branch. MICR code for Mumbai Nariman Point 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 Mumbai Nariman Point is presented in the table alongside.

Use of Ratnakar Bank MICR code for Mumbai Nariman Point branch in greater bombay

The MICR code 400176023 is used in RBI cheque clearing process to identify the branch Mumbai Nariman Point 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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