Union Bank Satave Kolhapur Maharashtra MICR CODE

Find MICR Codes for Union Bank Satave Kolhapur Maharashtra

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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	Satve
Contact	(02328)-245160
Bank Details	Union Bank Of India Satve UBIN0547549

Location	Satave, Kolhapur
City	Satave
District	Kolhapur
State	Maharashtra
Pincode	416114
Country	IN
Address	At & post satve, taluka panhala, dist. Kolhapur, pin - 416 114.

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

>>Satve

MICR code for Union Bank Satve

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

Use of Union Bank Of India MICR code for Satve branch in satave

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