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Shamrao Vithal Bank Pune Pune Maharashtra MICR CODE

Find MICR Codes for Shamrao Vithal Bank Pune Pune 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 Vidya Bank Bhosari
Contact 020-27111749/27111750
Bank Details Shamrao Vithal Co-Op Bank Ltd Vidya Bank Bhosari SVCB0003010
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode 411026
Country IN
Address S no 681, hissa no 1/16 city, s no 3403, shop no 1, saidham building, bhosari,pune - 411 026
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 411171010 for Vidya Bank Bhosari 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 411171010 of Shamrao Bank, Vidya Bank Bhosari branch makes the system almost error free and faster. Use of Shamrao Bank MICR codes for Vidya Bank Bhosari branch, makes the characters readable even if there are other marks and stamps on it.

A total of 84 branches of Shamrao Vithal Co-Op Bank Ltd are available with micr code -

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MICR code for Shamrao Vithal Bank Vidya Bank Bhosari

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 Vidya Bank Bhosari 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. 411171010 is the MICR code of SVC Bank for Vidya Bank Bhosari branch. MICR code for Vidya Bank Bhosari 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 Vidya Bank Bhosari is presented in the table alongside.

Use of Shamrao Bank MICR code for Vidya Bank Bhosari branch in pune

The MICR code 411171010 is used in RBI cheque clearing process to identify the branch Vidya Bank Bhosari 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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