Sbm Bank Kolhapur Kolhapur Maharashtra MICR CODE

Find MICR Codes for Sbm Bank Kolhapur Kolhapur Maharashtra

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MICR Code
Bank State Bank Of Mysore
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Kolhapur
Contact 0231-2657978
Bank Details State Bank Of Mysore Kolhapur SBMY0040362
Location Kolhapur, Kolhapur
City Kolhapur
District Kolhapur
State Maharashtra
Pincode 416001
Country IN
Address 659 c e ward 2nd lane shahpuri kolhapur-416001
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 416006002 for Kolhapur 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 416006002 of State Bank Of Mysore, Kolhapur branch makes the system almost error free and faster. Use of State Bank Of Mysore MICR codes for Kolhapur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of State Bank Of Mysore are available with micr code -

>>Kolhapur

MICR code for Sbm Bank Kolhapur

Sbm Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. State Bank Of Mysore MICR code for Kolhapur 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. 416006002 is the MICR code of Sbm Bank for Kolhapur branch. MICR code for Kolhapur 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 Mysore Kolhapur is presented in the table alongside.

Use of State Bank Of Mysore MICR code for Kolhapur branch in kolhapur

The MICR code 416006002 is used in RBI cheque clearing process to identify the branch Kolhapur and State Bank Of Mysore 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 Sbm Bank is typically in either of these two font’s: E-138 and CMC-7.

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