Shamrao Vithal Bank Banglore Bangalore Urban Karnataka MICR CODE

Find MICR Codes for Shamrao Vithal Bank Banglore Bangalore Urban Karnataka

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MICR Code
Bank Shamrao Vithal Co-Op Bank Ltd
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Malleshwaram
Contact 080-3447875 / 080-3441629
Bank Details Shamrao Vithal Co-Op Bank Ltd Malleshwaram SVCB0000060
Location Banglore, Bangalore Urban
City Banglore
District Bangalore Urban
State Karnataka
Pincode 560003
Country IN
Address 49/1 5th cross road malleshwaram bangalore
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 560089002 for Malleshwaram 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 560089002 of Shamrao Bank, Malleshwaram branch makes the system almost error free and faster. Use of Shamrao Bank MICR codes for Malleshwaram branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Shamrao Vithal Bank Malleshwaram

Shamrao Vithal Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Shamrao Bank MICR code for Malleshwaram 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. 560089002 is the MICR code of SVC Bank for Malleshwaram branch. MICR code for Malleshwaram 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 Shamrao Bank Malleshwaram is presented in the table alongside.

Use of Shamrao Bank MICR code for Malleshwaram branch in banglore

The MICR code 560089002 is used in RBI cheque clearing process to identify the branch Malleshwaram and Shamrao 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 SVC Bank is typically in either of these two font’s: E-138 and CMC-7.

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