SBP Bank Aurangabad Aurangabad Maharashtra MICR CODE

Find MICR Codes for SBP Bank Aurangabad Aurangabad Maharashtra

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MICR Code
Bank State Bank Of Patiala
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Bhagya Nagar
Contact 0240-2352346
Bank Details State Bank Of Patiala Bhagya Nagar STBP0001190
Location Aurangabad, Aurangabad
City Aurangabad
District Aurangabad
State Maharashtra
Pincode 431001
Country IN
Address 66, bhagyanagar, near st office, aurangabad, maharashtra-431001
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 Bhagya Nagar 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 Patiala, Bhagya Nagar branch makes the system almost error free and faster. Use of State Bank Of Patiala MICR codes for Bhagya Nagar branch, makes the characters readable even if there are other marks and stamps on it.

A total of 2 branches of State Bank Of Patiala are available with micr code -

>>Aurangabad >>Bhagya Nagar

MICR code for SBP Bank Bhagya Nagar

SBP Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. State Bank Of Patiala MICR code for Bhagya Nagar 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 SBP Bank for Bhagya Nagar branch. MICR code for Bhagya Nagar 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 Patiala Bhagya Nagar is presented in the table alongside.

Use of State Bank Of Patiala MICR code for Bhagya Nagar branch in aurangabad

The MICR code 0 is used in RBI cheque clearing process to identify the branch Bhagya Nagar and State Bank Of Patiala 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 SBP Bank is typically in either of these two font’s: E-138 and CMC-7.

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