Saraswat Bank Pen Raigad Maharashtra MICR CODE

Find MICR Codes for Saraswat Bank Pen Raigad Maharashtra

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MICR Code	-NA-
Bank	Saraswat Co-Op Bank Ltd
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Pen Branch
Contact	02143-255584, 255585
Bank Details	Saraswat Co-Op Bank Ltd Pen Branch SRCB0000229

Location	Pen, Raigad
City	Pen
District	Raigad
State	Maharashtra
Pincode	402107
Country	IN
Address	Centre point, ground floor, pen municipal corporation building, chinchpada, near s. T. Bus stand, dist. Raigad - 402107

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

A total of 1 branches of Saraswat Co-Op Bank Ltd are available with micr code -

>>Pen Branch

MICR code for Saraswat Bank Pen Branch

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

Use of Saraswat Cooperative Bank MICR code for Pen Branch branch in pen

The MICR code 0 is used in RBI cheque clearing process to identify the branch Pen 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.

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