MICR cheque processing centre opened

PUNE, Sept 4: The Magnetic Ink Character Recognition MICR cheque processing centre of Union Bank of India, Pune was inaugurated by T S Raghavan, chairman and managing director of Bank of Maharashtra BoM.

The facility will ensure speedy clearance of cheques presented by various banks with accuracy and fewer errors. The bank8217;s centre at Shankarsheth Road has two power feeders of 140 kilowatts through separate power sub-stations specially erected for this purpose.

There are two reader/sorter machines which operate at a speed of 1700 cheques per minute.