Shamrao Vithal Bank Mumbai Mumbai Maharashtra MICR CODE

Find MICR Codes for Shamrao Vithal Bank Mumbai Mumbai 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 Veleparle West Branch
Contact 26124028/ 29
Bank Details Shamrao Vithal Co-Op Bank Ltd Veleparle West Branch SVCB0000059
Location Mumbai, Mumbai
City Mumbai
District Mumbai
State Maharashtra
Pincode 400056
Country IN
Address Shop no.01,saroj building,10,vallabhbhai patel road,vile parle (w),mumbai – 400056
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 0 for Veleparle West Branch 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 0 of Shamrao Bank, Veleparle West Branch branch makes the system almost error free and faster. Use of Shamrao Bank MICR codes for Veleparle West Branch branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Shamrao Vithal Bank Veleparle West Branch

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 Veleparle West Branch 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. 0 is the MICR code of SVC Bank for Veleparle West Branch branch. MICR code for Veleparle West Branch 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 Veleparle West Branch is presented in the table alongside.

Use of Shamrao Bank MICR code for Veleparle West Branch branch in mumbai

The MICR code 0 is used in RBI cheque clearing process to identify the branch Veleparle West Branch 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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