MAGNETIC INK CHARACTER RECOGNITION (MICR)
In MICR technology the information is printed on the instrument with a special type of ink which is made up of magnetic material. On insertion of the instrument in the machine, the printed information is read by the machine. MICR system is beneficial as it minimizes chances of error, clearing of cheques becomes easy and transfer of funds becomes faster in order to facilitate operations.
MICR code consist of 9 digit
First three digit (1-3) denotes city and are same/identical first three digit of your pin code
for example first three digit of Pin code of New Delhi =110 so first three digit of MICR code of all the bank branches located in New Delhi must be 110.
4-6 digit denotes for Bank
each bank has given a three digit code,4-6 digit is= bank code eg. SBI code is "002"so 4-6 digit of MICR code all the the branches of SBI is "002" irrespective of location in the india.
(7-9)Last three digit denotes branch code,it is in serial wise ,means if delhi has only one branch of SBI and its MICR code will be
In MICR technology the information is printed on the instrument with a special type of ink which is made up of magnetic material. On insertion of the instrument in the machine, the printed information is read by the machine. MICR system is beneficial as it minimizes chances of error, clearing of cheques becomes easy and transfer of funds becomes faster in order to facilitate operations.
MICR code consist of 9 digit
First three digit (1-3) denotes city and are same/identical first three digit of your pin code
for example first three digit of Pin code of New Delhi =110 so first three digit of MICR code of all the bank branches located in New Delhi must be 110.
4-6 digit denotes for Bank
each bank has given a three digit code,4-6 digit is= bank code eg. SBI code is "002"so 4-6 digit of MICR code all the the branches of SBI is "002" irrespective of location in the india.
(7-9)Last three digit denotes branch code,it is in serial wise ,means if delhi has only one branch of SBI and its MICR code will be
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