Syndicate Bank Panaji North Goa Goa MICR CODE

Find MICR Codes for Syndicate Bank Panaji North Goa Goa

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MICR Code	403025002
Bank	Syndicate Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Goa Panaji
Contact
Bank Details	Syndicate Bank Goa Panaji SYNB0007200

Location	Panaji, North Goa
City	Panaji
District	North Goa
State	Goa
Pincode	403001
Country	IN
Address	Hotel novagoa building,dr atmaram borkar road,panaji,,north goa,goa,403 001

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 403025002 for Goa Panaji 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 403025002 of Syndicate Bank, Goa Panaji branch makes the system almost error free and faster. Use of Syndicate Bank MICR codes for Goa Panaji branch, makes the characters readable even if there are other marks and stamps on it.

A total of 3 branches of Syndicate Bank are available with micr code -

>>Cao Panaji Goa >>Goa Panaji >>R O Panaji

MICR code for Syndicate Bank Goa Panaji

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 Goa Panaji 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. 403025002 is the MICR code of Syndicate Bank for Goa Panaji branch. MICR code for Goa Panaji 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 Goa Panaji is presented in the table alongside.

Use of Syndicate Bank MICR code for Goa Panaji branch in panaji

The MICR code 403025002 is used in RBI cheque clearing process to identify the branch Goa Panaji 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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