Ratnakar Bank Mumbai Greater Bombay Maharashtra MICR CODE

Find MICR Codes for Ratnakar Bank Mumbai Greater Bombay Maharashtra

↻ Reload
MICR Code
Bank Ratnakar Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch The Ratnakar Bank Ltd
Contact 240288100
Bank Details Ratnakar Bank Ltd The Ratnakar Bank Ltd RATN0123456
Location Mumbai, Greater Bombay
City Mumbai
District Greater Bombay
State Maharashtra
Pincode 400062
Country IN
Address The ratnakar bank ltd,9th floor,techniplex-i,off veer savarkar flyover,goregaon west,mumbai-400062
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 The Ratnakar Bank Ltd 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, The Ratnakar Bank Ltd branch makes the system almost error free and faster. Use of Ratnakar Bank MICR codes for The Ratnakar Bank Ltd branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Ratnakar Bank The Ratnakar Bank Ltd

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 The Ratnakar Bank Ltd 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 The Ratnakar Bank Ltd branch. MICR code for The Ratnakar Bank Ltd 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 The Ratnakar Bank Ltd is presented in the table alongside.

Use of Ratnakar Bank MICR code for The Ratnakar Bank Ltd branch in mumbai

The MICR code 0 is used in RBI cheque clearing process to identify the branch The Ratnakar Bank Ltd 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.

Copied!