Shamrao Vithal Bank Naigaon Nanded Maharashtra MICR CODE

Find MICR Codes for Shamrao Vithal Bank Naigaon 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 Narsi
Contact 266444
Bank Details Shamrao Vithal Co-Op Bank Ltd Shankar Nagari Sahkari Bk Narsi SVCB0023009
Location Naigaon, Nanded
City Naigaon
District Nanded
State Maharashtra
Pincode 431709
Country IN
Address Narsi chowk, narsi, tq. Naigaon, 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 431811506 for Shankar Nagari Sahkari Bk Narsi 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 431811506 of Shamrao Bank, Shankar Nagari Sahkari Bk Narsi branch makes the system almost error free and faster. Use of Shamrao Bank MICR codes for Shankar Nagari Sahkari Bk Narsi 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 Narsi

MICR code for Shamrao Vithal Bank Shankar Nagari Sahkari Bk Narsi

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 Narsi 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. 431811506 is the MICR code of SVC Bank for Shankar Nagari Sahkari Bk Narsi branch. MICR code for Shankar Nagari Sahkari Bk Narsi 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 Narsi is presented in the table alongside.

Use of Shamrao Bank MICR code for Shankar Nagari Sahkari Bk Narsi branch in naigaon

The MICR code 431811506 is used in RBI cheque clearing process to identify the branch Shankar Nagari Sahkari Bk Narsi 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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