SBI Indore Indore Madhya Pradesh MICR CODE

Find MICR Codes for SBI Indore Indore Madhya Pradesh

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MICR Code	452005007
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	Palsikar Colony Indore
Contact	0731-2366329,2366105
Bank Details	State Bank Of India Palsikar Colony Indore SBIN0030014

Location	Indore, Indore
City	Indore
District	Indore
State	Madhya Pradesh
Pincode	452007
Country	IN
Address	22, palsikar colony

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 452005007 for Palsikar Colony Indore 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 452005007 of State Bank Of India, Palsikar Colony Indore branch makes the system almost error free and faster. Use of State Bank Of India MICR codes for Palsikar Colony Indore branch, makes the characters readable even if there are other marks and stamps on it.

A total of 126 branches of State Bank Of India are available with micr code -

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MICR code for SBI Palsikar Colony Indore

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 Palsikar Colony Indore 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. 452005007 is the MICR code of SBI Bank for Palsikar Colony Indore branch. MICR code for Palsikar Colony Indore 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 Palsikar Colony Indore is presented in the table alongside.

Use of State Bank Of India MICR code for Palsikar Colony Indore branch in indore

The MICR code 452005007 is used in RBI cheque clearing process to identify the branch Palsikar Colony Indore 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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