Saraswat Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Saraswat Cooperative Bank MICR code for Khanda Colony New Panvel 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. 400088151 is the MICR code of Saraswat Co Op Bank for Khanda Colony New Panvel branch. MICR code for Khanda Colony New Panvel 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 Saraswat Cooperative Bank Khanda Colony New Panvel is presented in the table alongside.
The MICR code 400088151 is used in RBI cheque clearing process to identify the branch Khanda Colony New Panvel and Saraswat Cooperative Bank 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 Saraswat Co Op Bank is typically in either of these two font’s: E-138 and CMC-7.