SBI Indore Indore Madhya Pradesh MICR CODE

Find MICR Codes for SBI Indore Indore Madhya Pradesh

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MICR Code	452005022
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	Phadnis Colony Indore
Contact	0731-2430931,2540564
Bank Details	State Bank Of India Phadnis Colony Indore SBIN0030144

Location	Indore, Indore
City	Indore
District	Indore
State	Madhya Pradesh
Pincode
Country	IN
Address	140, ab road

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 452005022 for Phadnis 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 452005022 of State Bank Of India, Phadnis Colony Indore branch makes the system almost error free and faster. Use of State Bank Of India MICR codes for Phadnis 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 Phadnis 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 Phadnis 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. 452005022 is the MICR code of SBI Bank for Phadnis Colony Indore branch. MICR code for Phadnis 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 Phadnis Colony Indore is presented in the table alongside.

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

The MICR code 452005022 is used in RBI cheque clearing process to identify the branch Phadnis 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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