MICR Code Bank
Find MICR code for Saraswat Bank branches in India for NEFT and RTGS transfer

Saraswat Bank MICR CODE

Find MICR Codes for Saraswat Bank

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  1. Saraswat Co-Op Bank Ltd »
  2. Maharashtra »
  3. aurangabad »
  4. aurangabad »
  5. mgm medical college br

Find MICR Codes for Saraswat Bank

MICR Code: 431088006
Bank: Saraswat Co-Op Bank Ltd
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Mgm Medical College Br
Contact: 0240-2243008
Bank Details: Saraswat Co-Op Bank Ltd Mgm Medical College Br SRCB0000111
Location: Aurangabad, Aurangabad
City: Aurangabad
District: Aurangabad
State: Maharashtra
Pincode: 431003
Country: IN
Address: Mgm medical college, n-6, cidco, aurangabad-431003

How does MICR code for 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 of Saraswat Cooperative Bank, branch makes the system almost error free and faster. Use of Saraswat Cooperative Bank MICR codes for branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Saraswat Bank

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 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. is the MICR code of Saraswat Co Op Bank for branch. MICR code for 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 is presented in the table alongside.

Use of Saraswat Cooperative Bank MICR code for branch in aurangabad

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