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Understanding Bank MICR Codes
Magnetic Ink Character Recognition (MICR) is a 9-digit numeric code printed at the bottom of bank cheques. It is used primarily by the RBI to process and clear paper check transactions efficiently.
MICR Numeric Breakdown
A MICR code consists of three equal parts: the first 3 digits represent the city code (aligned with PIN Code prefix, e.g., 500 for Hyderabad), the next 3 digits represent the bank code, and the last 3 digits indicate the specific branch.
MICR vs IFSC Routing
While IFSC is an alphanumeric code used for real-time electronic money transfers (IMPS, NEFT, RTGS), MICR is a purely numeric code optimized for automated magnetic scanners during paper check clearing processes.
Where is MICR Printed?
The 9-digit MICR code is printed using magnetic ink next to the cheque number at the bottom of your bank cheque leaf. It is also found printed on the front page of most bank passbooks.