MICR Code in Cheque

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MICR or Magnetic Ink Character Recognition Code is a 9-digit Code used for fast processing of cheques. The MICR number is also unique to each bank branch,so it helps to uniquely identify the bank and branch participating in the electronic clearing system (ECS). Like IFSC, MICR Code is a combination of 3 essential components.

  • The First 3 digits represent the City Code.
  • The Middle 3 represents the special bank Code.
  • The last 3 digits represents the specific branch Code.

MICR Code Examples:-




Below is the list of MICR codes (top 5) of Bank along with their branch name. It should be noted that the MICR code, like IFSC , is unique to each branch in India. Therefore ,no 2 bank branches can have the same MICR Code.

Bank Name

Branch Name

MICR Code

State Bank Of India

Bailey Road, Patna

800002006

HDFC

Anjuna, Goa

403240035

Bank Of Baroda

Service Branch, Bangalore

560012001

Axis Bank

Defence Colony, Delhi

110211036

Canara Bank

Circle Office, Chandigarh

160015995


Purpose to use the MICR Code?

  • MICR or Magnetic Ink Character Recognition Code is a character recognition technique used by the banking industry to streamline the processing and withdrawal/Clearance of cheques and other documents.
  • The primary requirement of the Code is to certify the originality and Validity of paper-based documents in the banking system ans is used prominently on cheques.
  • MICR Code is equivalent to IFSC, where funds are transferred using NEFT or IMPS.
  • The technology helps banking officials who are MICR readers, who scan cheques and read information directly through the system.
  • Each bank branch has Unique MICR Code given by RBI, which helps to identify the particular bank branch and speed up the clearing process.

Where to find IFSC Code and MICR Code on a Cheque?

Both IFSC and MICR Codes can be found on the cheque book provided by the bank. The IFSC Code can be seen printed at the top of the cheque leaf, while the MICR Code can be printed at the bottom. Also, IFSC as well as MICR Code can also be found on the first page of the passbook provided by the concerned bank branch.






Location: Delhi, India

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