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 Shree Mahalaxmi Coop Crd Bk Nippani 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. 591851302 is the MICR code of SVC Bank for Shree Mahalaxmi Coop Crd Bk Nippani branch. MICR code for Shree Mahalaxmi Coop Crd Bk Nippani 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 Shree Mahalaxmi Coop Crd Bk Nippani is presented in the table alongside.
The MICR code 591851302 is used in RBI cheque clearing process to identify the branch Shree Mahalaxmi Coop Crd Bk Nippani 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.