What is MICR bank code?
MICR code is a code printed on cheques using MICR (Magnetic Ink Character Recognition technology). This enables identification of the cheques and which in turns means faster processing. An MICR code is a 9-digit code that uniquely identifies the bank and branch participating in an Electronic Clearing System (ECS).
What is bank code for Indian bank?
Indian Financial System Code is a 11-digit code that consists of numbers and alphabets. Every bank branch in the country has a specific IFSC key….Indian Bank IFSC Code.
| IFSC Code | IDIB000B075 | IDIB000J028 |
|---|---|---|
| Remittance Services | NEFT | NEFT |
| Bank Details | Indian Bank Commercial Street IDIB000B075 | Indian Bank J P Nagar IDIB000J028 |
How can I know my Indian Bank IFSC code?
You can find the 11-digit Indian Bank IFSC Code on the leaves of your Indian bank’s chequebook, passbook and/or on their website. IFSC helps in uniquely demarcating the bank branches across India while transferring money through NEFT and RTGS.
Is MICR code and CIF number same?
Are the IFSC code, MICR code and CIF number the same? No, IFSC code, MICR code and CIF number serve different purposes.
Is MICR code same for one branch?
MICR consists of a 9 digit code. The first three digits of the MICR code represent the city, the next three give the bank code and the last three digits denote the branch of the bank. Similar to an IFSC code, every branch of a bank has a specific MICR code.
How can I get MICR code from IFSC code?
The starting 3 digits of the code signify the city code, the next 3 digits (the middle ones) stand for the bank code and the last 3 digits represent the code of the branch. You can easily find the MICR number at the bottom of your cheque leaf, printed adjacent the cheque number (on the right-hand side).