Ratnakar Bank Ludhiana Ludhiana Punjab MICR CODE

Find MICR Codes for Ratnakar Bank Ludhiana Ludhiana Punjab

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MICR Code
Bank Ratnakar Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Sec Thirty Two Ludhiana Punjab
Contact -
Bank Details Ratnakar Bank Ltd Sec Thirty Two Ludhiana Punjab RATN0000580
Location Ludhiana, Ludhiana
City Ludhiana
District Ludhiana
State Punjab
Pincode 141010
Country IN
Address Sco 41, sector 32 a,glada market, chandigarh road, ludhiana 141 010
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 Sec Thirty Two Ludhiana Punjab 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, Sec Thirty Two Ludhiana Punjab branch makes the system almost error free and faster. Use of Ratnakar Bank MICR codes for Sec Thirty Two Ludhiana Punjab branch, makes the characters readable even if there are other marks and stamps on it.

A total of 3 branches of Ratnakar Bank Ltd are available with micr code -

>>Ludhiana >>Millerganj Ludhiana >>Sec Thirty Two Ludhiana Punjab

MICR code for Ratnakar Bank Sec Thirty Two Ludhiana Punjab

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 Sec Thirty Two Ludhiana Punjab 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 Sec Thirty Two Ludhiana Punjab branch. MICR code for Sec Thirty Two Ludhiana Punjab 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 Sec Thirty Two Ludhiana Punjab is presented in the table alongside.

Use of Ratnakar Bank MICR code for Sec Thirty Two Ludhiana Punjab branch in ludhiana

The MICR code 0 is used in RBI cheque clearing process to identify the branch Sec Thirty Two Ludhiana Punjab 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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