Syndicate Bank Pune Pune Maharashtra MICR CODE

Find MICR Codes for Syndicate Bank Pune Pune Maharashtra

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MICR Code
Bank Syndicate Bank
Business Hours
Mode Of Payment Cash,Cheque,Demand Draft and Net banking
Branch Savindane
Contact 24324845
Bank Details Syndicate Bank Savindane SYNB0005446
Location Pune, Pune
City Pune
District Pune
State Maharashtra
Pincode 410510
Country IN
Address Savindane tal shirur district pune maharashtra india -410510
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 Savindane 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, Savindane branch makes the system almost error free and faster. Use of Syndicate Bank MICR codes for Savindane branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Syndicate Bank Savindane

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 Savindane 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 Savindane branch. MICR code for Savindane 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 Savindane is presented in the table alongside.

Use of Syndicate Bank MICR code for Savindane branch in pune

The MICR code 0 is used in RBI cheque clearing process to identify the branch Savindane 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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