SBI Cancona South Goa Goa MICR CODE

Find MICR Codes for SBI Cancona South Goa Goa

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MICR Code	403002050
Bank	State Bank Of India
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Maxem
Contact	Ip-108534, 0832-2640224
Bank Details	State Bank Of India Maxem SBIN0004751

Location	Cancona, South Goa
City	Cancona
District	South Goa
State	Goa
Pincode	403702
Country	IN
Address	Dist south goa goa 403702

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 403002050 for Maxem 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 403002050 of State Bank Of India, Maxem branch makes the system almost error free and faster. Use of State Bank Of India MICR codes for Maxem branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of State Bank Of India are available with micr code -

>>Maxem

MICR code for SBI Maxem

SBI MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. State Bank Of India MICR code for Maxem 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. 403002050 is the MICR code of SBI Bank for Maxem branch. MICR code for Maxem 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 State Bank Of India Maxem is presented in the table alongside.

Use of State Bank Of India MICR code for Maxem branch in cancona

The MICR code 403002050 is used in RBI cheque clearing process to identify the branch Maxem and State Bank Of India 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 SBI Bank is typically in either of these two font’s: E-138 and CMC-7.

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