IFSC code for Bank of Maharashtra, Chandrapur, Chandrapur, Maharashtra
Updated on: Friday, November 1, 2024
IFSC CODE
MAHB0000055
Bank of Maharashtra
Chandrapur, Chandrapur, Maharashtra
Address
M.g. Road, P.b.no.14, Chandrapur
Bank of Maharashtra
Chandrapur, Chandrapur, Maharashtra
Address
M.g. Road, P.b.no.14, Chandrapur
Bank Details
IFSC Code
MAHB0000055
MICR Code
442014102
Bank Code
(Based on IFSC)
MAHB
Bank Code
(Based on MICR)
014
Contact
+918799903620
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IFSC Code of Bank of Maharashtra
Every Bank of Maharashtra branch in India has a unique Bank of Maharashtra IFSC Code. Bank of Maharashtra IFSC Code enables Bank of Maharashtra account holders to send and receive money electronically. Bank of Maharashtra IFSC Code is assigned by RBI (Reserve Bank of India) to each branch as it helps in carrying out RTGS and NEFT transactions smoothly.
Benefits of IFSC Code
Unique Identification: IFSC code helps in unique identification of all banks and their respective branches.
Smooth Fund Transfer: IFSC code enables convenient and hassle-free transfer of funds from one bank account to another.
Monitoring Transactions: IFSC code is used by RBI to keep track of all the bank transactions. It lowers the chances of discrepancy.
Format of Bank of Maharashtra IFSC Code MAHB0000055
The IFSC code of all accounts in the same branch of the bank is standard. It is an 11 digit alphanumeric code.
The first four letters of the code, i.e., MAHB, denotes the name of the bank which is Bank of Maharashtra.
The fifth character is 0.
The last six digits of the code, i.e., 000055, represents the branch which is Bank of Maharashtra
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MICR Code of Bank of Maharashtra
Every Bank of Maharashtra branch in India has a unique Bank of Maharashtra MICR Code. MICR code for Bank of Maharashtra can be found on a cheque leaf and bank passbook. It is a 9 digit code printed on the last line of a cheque leaf. One can also find MICR code on the website of Bank of Maharashtra. MICR code is used for faster and secure processing of cheques.
Benefits of MICR Code
High Level of Security: The use of magnetic ink ensures MICR characters are readable even if a document is obscured by marks.
Authentication of Docs: MICR code authenticates the originality and legality of paper based docs. in the banking system.
Faster Processing: There is no manual input and hence the processing of MICR information is fast and errors are reduced.
