The full form of MICR is Magnetic Ink Character Recognition technology. The primary need for this innovation is to authenticate the originality and legality of paper based documents in the banking system and is majorly used on cheques. In terms of their real-world importance, MICR stands on par with IFSC where transfer of funds using NEFT or IMPS is concerned..

MICR code imbibes the cutting-edge character recognition technology that is used by banks to authenticate the clearance of cheques and other such documents. MICR code itself can be seen placed on the bottom strip of the cheque and includes such details as the bank code, account details, cheque number and amount, alongside a control indicator. The principal advantage of this system is that unlike similar concepts like barcodes, MICR can be easily distinguished and read by humans.

What is the use of MICR code?

MICR is a technology that helps in verifying the originality of cheques or other paper documents. It is used mainly by banks to process cheques faster. The MICR code helps RBI in identifying the bank branch.

What is Kotak Mahindra Bank Limited MICR Code?

Magnetic Ink Character Recognition (MICR) is a printing technology that is used to print alpha-numeric details. MICR Code is printed on cheques and they allow the cheque to be processed easily.

Sanjay Nagar Bommanahalli Branch Information

Indian Financial System Code, Magnetic Ink Character Recognition, SWIFT Code, Address and Contact number of Kotak Mahindra Bank Limited - Sanjay Nagar Bommanahalli branch in [ditrict]  district which is in the state of Karnataka. Branch office and ATM location.

What is  Kotak Mahindra Bank Limited Sanjay Nagar Bommanahalli RTGS?

Real Time Gross Settlement (RTGS) is a fund transfer mechanism which is used to transfer money from one bank to another. This gross basis transfer happens in realtime, hence the name. Minimum amount that can be transferred through RTGS is Rs. 2,00,000. Fees to process RTGS will be applicable.

What is  Kotak Mahindra Bank Limited Sanjay Nagar Bommanahalli NEFT?

National Electronic Fund Transfer (NEFT) is an online money transfer system which is supported by RBI. NEFT is used for medium and small amount transfer between accounts and banks. There is no minimum amount limit to send money via NEFT.

Kotak Mahindra Bank Limited Sanjay Nagar Bommanahalli 560485094 micr code, Kotak Mahindra Bank Limited 560485094 micrcode, MICR Code 560485094Kotak Mahindra Bank Limited Sanjay Nagar Bommanahalli Bommanahalli, MICR Code of Sanjay Nagar Bommanahalli Kotak Mahindra Bank Limited 560485094, Kotak Mahindra Bank Limited 560485094 MICR Code Sanjay Nagar Bommanahalli.