Shamrao Vithal Bank Dharmabad Nanded Maharashtra MICR CODE

Find MICR Codes for Shamrao Vithal Bank Dharmabad Nanded Maharashtra

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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 Peoples Bk Hingoli Dharmabad
Contact (02465) 244559
Bank Details Shamrao Vithal Co-Op Bank Ltd Peoples Bk Hingoli Dharmabad SVCB0009016
Location Dharmabad, Nanded
City Dharmabad
District Nanded
State Maharashtra
Pincode 431809
Country IN
Address Market yard mondha, tal dharmabad, dist nanded, dharmabad-431809
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 431809502 for Peoples Bk Hingoli Dharmabad 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 431809502 of Shamrao Bank, Peoples Bk Hingoli Dharmabad branch makes the system almost error free and faster. Use of Shamrao Bank MICR codes for Peoples Bk Hingoli Dharmabad branch, makes the characters readable even if there are other marks and stamps on it.

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

>>Peoples Bk Hingoli Dharmabad

MICR code for Shamrao Vithal Bank Peoples Bk Hingoli Dharmabad

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 Peoples Bk Hingoli Dharmabad 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. 431809502 is the MICR code of SVC Bank for Peoples Bk Hingoli Dharmabad branch. MICR code for Peoples Bk Hingoli Dharmabad 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 Peoples Bk Hingoli Dharmabad is presented in the table alongside.

Use of Shamrao Bank MICR code for Peoples Bk Hingoli Dharmabad branch in dharmabad

The MICR code 431809502 is used in RBI cheque clearing process to identify the branch Peoples Bk Hingoli Dharmabad 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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