What is MICR Code of a Bank?

MICR stands for Magnetic Ink Character Recognition. It is a technology which allows machines to read and process cheques enabling thousands of cheque transactions in a short time. MICR Code of bank is usually a nine digit code comprising of some important information about the transaction and the bank.

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Decoding MICR Code of a Branch

The 9 digit MICR code varies from branch to branch for all the indian banks. Here is how the code can be decoded

The first 3 digits of MICR code of bank represents the city of the branch of the corresponding bank. The middle three i.e 4,5,6 digits represent the unique bank code. The Last three digits of the bank represent the branch code.

Where to Use MICR Code

The MICR Code of bank acts as an security bar code to protect your transaction, the MICR code is also an indispensable part for online money transfers. Every bank branch is given a unique MICR code and this helps the RBI to identify the bank branch and speed up the clearing process.

Processing of Cheques using MICR Code

The manual clearing of cheques takes too long for clearing and there is a possibility of many human errors. The MICR code of bank on the cheque printed with a unique magnetic ink usually iron oxide has magnetic material present in it and thus makes it machine-readable and almost error proof!

Under this method the reading machine or a cheque sorting machine reads through a cheque when inserted and identifies the branch the cheque belongs to and activates the automation clearing process.

The MICR code of a bank is so clear and fine that the machine could read it even if the MICR code isn't visible due to other marks or stamps on it.

List of all Banks to find MICR Code with Branch/District/State Details

TAMILNAD MERCANTILE BANK LIMITED

THE A.P. MAHESH COOPERATIVE URBAN BANK LIMITED

THE AKOLA DISTRICT CENTRAL COOPERATIVE BANK

THE ANDHRA PRADESH STATE COOP BANK LTD

THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED

THE BANK OF NOVA SCOTIA

THE COSMOS CO OPERATIVE BANK LIMITED

THE DELHI STATE COOPERATIVE BANK LIMITED

THE GADCHIROLI DISTRICT CENTRAL COOPERATIVE BANK LIMITED

THE GREATER BOMBAY COOPERATIVE BANK LIMITED

THE GUJARAT STATE COOPERATIVE BANK LIMITED

THE HASTI COOP BANK LTD

THE JALGAON PEOPELS COOPERATIVE BANK LIMITED

THE KANGRA CENTRAL COOPERATIVE BANK LIMITED

THE KANGRA COOPERATIVE BANK LIMITED

THE KARAD URBAN COOPERATIVE BANK LIMITED

THE KARANATAKA STATE COOPERATIVE APEX BANK LIMITED

THE KURMANCHAL NAGAR SAHAKARI BANK LIMITED

THE MEHSANA URBAN COOPERATIVE BANK

THE MUMBAI DISTRICT CENTRAL COOPERATIVE BANK LIMITED

THE MUNICIPAL COOPERATIVE BANK LIMITED

THE NAINITAL BANK LIMITED

THE NASIK MERCHANTS COOPERATIVE BANK LIMITED

THE PANDHARPUR URBAN CO OP. BANK LTD. PANDHARPUR

THE RAJASTHAN STATE COOPERATIVE BANK LIMITED

THE ROYAL BANK OF SCOTLAND N V

THE SEVA VIKAS COOPERATIVE BANK LIMITED

THE SHAMRAO VITHAL COOPERATIVE BANK

THE SURAT DISTRICT COOPERATIVE BANK LIMITED

THE SURATH PEOPLES COOPERATIVE BANK LIMITED

THE TAMIL NADU STATE APEX COOPERATIVE BANK

THE THANE BHARAT SAHAKARI BANK LIMITED

THE THANE DISTRICT CENTRAL COOPERATIVE BANK LIMITED

THE VARACHHA COOPERATIVE BANK LIMITED

THE VISHWESHWAR SAHAKARI BANK LIMITED

THE WEST BENGAL STATE COOPERATIVE BANK

THE ZOROASTRIAN COOPERATIVE BANK LIMITED

TJSB SAHAKARI BANK LIMITED

TJSB SAHAKARI BANK LTD

TUMKUR GRAIN MERCHANTS COOPERATIVE BANK LIMITED

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