Union Bank Indore Ratlam Madhya Pradesh MICR CODE

Find MICR Codes for Union Bank Indore Ratlam Madhya Pradesh

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MICR Code	-NA-
Bank	Union Bank Of India
Business Hours	Monday to Saturday 10 am to 4 pm
Mode Of Payment	Cash,Cheque,Demand Draft and Net banking
Branch	Lakkad Pitha Ratlam
Contact
Bank Details	Union Bank Of India Lakkad Pitha Ratlam UBIN0562050

Location	Indore, Ratlam
City	Indore
District	Ratlam
State	Madhya Pradesh
Pincode	457001
Country	IN
Address	30 lakkad pitha road chandani chowk ratlam indore madhya pradesh

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 Lakkad Pitha Ratlam 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 Union Bank Of India, Lakkad Pitha Ratlam branch makes the system almost error free and faster. Use of Union Bank Of India MICR codes for Lakkad Pitha Ratlam branch, makes the characters readable even if there are other marks and stamps on it.

A total of 1 branches of Union Bank Of India are available with micr code -

>>Lakkad Pitha Ratlam

MICR code for Union Bank Lakkad Pitha Ratlam

Union Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Union Bank Of India MICR code for Lakkad Pitha Ratlam 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 Union Bank for Lakkad Pitha Ratlam branch. MICR code for Lakkad Pitha Ratlam 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 Union Bank Of India Lakkad Pitha Ratlam is presented in the table alongside.

Use of Union Bank Of India MICR code for Lakkad Pitha Ratlam branch in indore

The MICR code 0 is used in RBI cheque clearing process to identify the branch Lakkad Pitha Ratlam and Union Bank Of India 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 Union Bank is typically in either of these two font’s: E-138 and CMC-7.

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