Syndicate Bank Malvan Sindudurg Maharashtra MICR CODE

Find MICR Codes for Syndicate Bank Malvan Sindudurg Maharashtra

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MICR Code	416025502
Bank	Syndicate Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Malvan
Contact
Bank Details	Syndicate Bank Malvan SYNB0005371

Location	Malvan, Sindudurg
City	Malvan
District	Sindudurg
State	Maharashtra
Pincode	416606
Country	IN
Address	H no 381, somwarpeth, malvan, , sindhudurg dist, pin 416 606

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 416025502 for Malvan 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 416025502 of Syndicate Bank, Malvan branch makes the system almost error free and faster. Use of Syndicate Bank MICR codes for Malvan branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Syndicate Bank are available with micr code -

>>Malvan

MICR code for Syndicate Bank Malvan

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 Malvan 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. 416025502 is the MICR code of Syndicate Bank for Malvan branch. MICR code for Malvan 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 Malvan is presented in the table alongside.

Use of Syndicate Bank MICR code for Malvan branch in malvan

The MICR code 416025502 is used in RBI cheque clearing process to identify the branch Malvan 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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