SBI Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for SBI Panvel Raigad Maharashtra

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MICR Code	-NA-
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	New Panvel (West) Branch
Contact
Bank Details	State Bank Of India New Panvel (West) Branch SBIN0015664

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410206
Country	IN
Address	1st floor, harmony chs, plot no.1, sector 6, new panvel (west), tal. Panvel, dist. Raigad, maharashtra-410206

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 New Panvel (West) Branch 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 State Bank Of India, New Panvel (West) Branch branch makes the system almost error free and faster. Use of State Bank Of India MICR codes for New Panvel (West) Branch branch, makes the characters readable even if there are other marks and stamps on it.

A total of 6 branches of State Bank Of India are available with micr code -

>>New Panvel (West) Branch >>Ongc Panvel >>Panvel >>Panvel >>Sai (Ftwz) >>Vichumbe

MICR code for SBI New Panvel (West) Branch

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 New Panvel (West) Branch 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 SBI Bank for New Panvel (West) Branch branch. MICR code for New Panvel (West) Branch 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 New Panvel (West) Branch is presented in the table alongside.

Use of State Bank Of India MICR code for New Panvel (West) Branch branch in panvel

The MICR code 0 is used in RBI cheque clearing process to identify the branch New Panvel (West) Branch 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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