Syndicate Bank Panvel Raigad Maharashtra MICR CODE

Find MICR Codes for Syndicate Bank Panvel Raigad Maharashtra

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MICR Code	400025074
Bank	Syndicate Bank
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Panvel
Contact
Bank Details	Syndicate Bank Panvel SYNB0005210

Location	Panvel, Raigad
City	Panvel
District	Raigad
State	Maharashtra
Pincode	410206
Country	IN
Address	166 m c h society, v b phadke road, panvel, , raigad, maharashtra, 410 206

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 400025074 for Panvel 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 400025074 of Syndicate Bank, Panvel branch makes the system almost error free and faster. Use of Syndicate Bank MICR codes for Panvel 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 -

>>Karanjade >>Kharghar >>Panvel

MICR code for Syndicate Bank Panvel

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 Panvel 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. 400025074 is the MICR code of Syndicate Bank for Panvel branch. MICR code for Panvel 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 Panvel is presented in the table alongside.

Use of Syndicate Bank MICR code for Panvel branch in panvel

The MICR code 400025074 is used in RBI cheque clearing process to identify the branch Panvel 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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