Union Bank Lolada Patan Gujarat MICR CODE

Find MICR Codes for Union Bank Lolada Patan Gujarat

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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	Lolada
Contact	(02733)-41017
Bank Details	Union Bank Of India Lolada UBIN0547476

Location	Lolada, Patan
City	Lolada
District	Patan
State	Gujarat
Pincode	384242
Country	IN
Address	At & post - lolada, taluka - sami, dist. Mehsana, gujarat, pin - 384 242.

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 Lolada 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, Lolada branch makes the system almost error free and faster. Use of Union Bank Of India MICR codes for Lolada 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 -

>>Lolada

MICR code for Union Bank Lolada

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

Use of Union Bank Of India MICR code for Lolada branch in lolada

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