Shamrao Vithal Bank Loha Nanded Maharashtra MICR CODE

Find MICR Codes for Shamrao Vithal Bank Loha 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 Shankar Nagari Sahkari Bk Loha
Contact 02466-242208
Bank Details Shamrao Vithal Co-Op Bank Ltd Shankar Nagari Sahkari Bk Loha SVCB0023005
Location Loha, Nanded
City Loha
District Nanded
State Maharashtra
Pincode 431708
Country IN
Address Market yard, loha, tal: loha; dist: nanded
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 431811503 for Shankar Nagari Sahkari Bk Loha 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 431811503 of Shamrao Bank, Shankar Nagari Sahkari Bk Loha branch makes the system almost error free and faster. Use of Shamrao Bank MICR codes for Shankar Nagari Sahkari Bk Loha 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 -

>>Shankar Nagari Sahkari Bk Loha

MICR code for Shamrao Vithal Bank Shankar Nagari Sahkari Bk Loha

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 Shankar Nagari Sahkari Bk Loha 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. 431811503 is the MICR code of SVC Bank for Shankar Nagari Sahkari Bk Loha branch. MICR code for Shankar Nagari Sahkari Bk Loha 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 Shankar Nagari Sahkari Bk Loha is presented in the table alongside.

Use of Shamrao Bank MICR code for Shankar Nagari Sahkari Bk Loha branch in loha

The MICR code 431811503 is used in RBI cheque clearing process to identify the branch Shankar Nagari Sahkari Bk Loha 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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