answersLogoWhite

0

MICR code is a unique identification of a Bank's branch, typically useful in the interbank money transfers

User Avatar

Wiki User

15y ago

What else can I help you with?

Continue Learning about Movies & Television
Related Questions

Which bank merg with Punjab national bank in karnatka state of India?

Punjab National Bank acquired or merged with many banks in India during its long tenure but none of the banks were in Karnataka, India. Some of the banks that were acquired by PNB are:Bhagwan Dass Bank - Delhi circleNedungadi Bank - Kerala


Do Punjab national bank have branches in Mexico?

No. No Indian banks are currently operating in Mexico (Jan 2013)


Top three banks?

Some of the top banks in India are: * State Bank of India * Punjab National Bank * ICICI Bank * HDFC Bank * Axis Bank * etc


I have had a cheque from December can i still pay it in my bank?

Most banks will not honor a cheque which is dated more than 90 days past. Some banks allow for exceptions if it is a government cheque. Otherwise you will have to go back to the cheque isssuer and have them give you a new one.


Can you cash a US cheque in Philippine banks?

Yes, you may cash a US cheque in Philippine banks. However, it may take up to a week to verify the funds before they are available.


is Punjab National Bank open on the second Saturday of every month?

Yes, Punjab National Bank is open on the second Saturday of every month. In India, most public sector banks, including Punjab National Bank, follow a schedule where they operate on the second and fourth Saturdays. However, it's always a good idea to check with your local branch or the bank's official website for any specific announcements or changes to this schedule.


What is the process of clearing the cheque?

The process of clearing the cheque involves transfer of funds between banks using centralized check clearing houses.


What is known as cheque?

A cheque is a piece of paper which has details of your bank account. Which when signed by you is an agreement by you to pay the person on whose name the cheque is drawn the amount mentioned on the cheque. Cheques are very common and convenient means of payment used by banks.


Which is the leading bank of India?

The leading banks in India are as follows and in order: Public Sector Banks: 1. State Bank of India 2. Punjab National Bank 3. Bank of Baroda Private Sector Banks 1. ICICI Bank 2. HDFC Bank


How is MIcr used by banks in check processing?

It prints numbers at the bottom of a cheque.


When did the Punjab National Bank came into existence?

Punjab National bank was founded in the year 1894. It is now a state owned (nationalized) and the second largest bank in India. They have over 5000 branches across 764 cities in India. They serve over 37 million customers and are one of the big four banks in India.


Why do you have to write clearly on a cheque?

Because the cheque can bounce if you fail to do so. Banks can dishonor or reject a cheque that has any overwriting or unclear writings in it. They will honor or pay only those Cheques that are written legibly and have enough balance in the account. So to avoid your cheque bouncing it is better to write clearly on a cheque.