The Malad Sahakari Bank Ltd MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Malad Sahakari Bank MICR code for Extension Counter 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. 400079008 is the MICR code of The Malad Sahakari Bank Ltd for Extension Counter branch. MICR code for Extension Counter 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 Malad Sahakari Bank Extension Counter is presented in the table alongside.
The MICR code 400079008 is used in RBI cheque clearing process to identify the branch Extension Counter and Malad Sahakari 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 The Malad Sahakari Bank Ltd is typically in either of these two font’s: E-138 and CMC-7.