Syndicate Bank Raichur Raichur Karnataka MICR CODE

Find MICR Codes for Syndicate Bank Raichur Raichur Karnataka

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MICR Code
Bank Syndicate Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Basaveshwar Colony Raichur
Contact 277739
Bank Details Syndicate Bank Basaveshwar Colony Raichur SYNB0001824
Location Raichur, Raichur
City Raichur
District Raichur
State Karnataka
Pincode 584101
Country IN
Address H no 1-11-38-212,behind basaveshwar hospital,basaveshwar colony lingasugur road,raichur karnataka india 584101
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 Basaveshwar Colony Raichur 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 Syndicate Bank, Basaveshwar Colony Raichur branch makes the system almost error free and faster. Use of Syndicate Bank MICR codes for Basaveshwar Colony Raichur branch, makes the characters readable even if there are other marks and stamps on it.

A total of 9 branches of Syndicate Bank are available with micr code -

>>Basaveshwar Colony Raichur >>Devadurg >>Hutti >>Lingasugur >>Mudgal >>Raichur >>Raichur Karnataka Khadi Gs San >>Raichur Ssrg Womens College >>Ramapura

MICR code for Syndicate Bank Basaveshwar Colony Raichur

Syndicate Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Syndicate Bank MICR code for Basaveshwar Colony Raichur 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 Syndicate Bank for Basaveshwar Colony Raichur branch. MICR code for Basaveshwar Colony Raichur 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 Syndicate Bank Basaveshwar Colony Raichur is presented in the table alongside.

Use of Syndicate Bank MICR code for Basaveshwar Colony Raichur branch in raichur

The MICR code 0 is used in RBI cheque clearing process to identify the branch Basaveshwar Colony Raichur and Syndicate 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 Syndicate Bank is typically in either of these two font’s: E-138 and CMC-7.

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