MICR Code

To enable identification of the cheques, MICR Code on cheques comes in light. The MICR Code helps in faster processing of the cheque based transactions. In this article, we will discuss about MICR Code on cheque, importance and parts of MICR Code.

What is MICR Code?

MICR Code stands for Magnetic Ink Character Recognition. It is an advanced technology that uses a 9-digit code uniquely identifying the bank and branch involved in Electronic Clearing System (ECS). The MICR Code is printed at the bottom of the cheque leaf followed by cheque number.

The MICR Code is also printed on the first page of a bank savings account. Each banks in India have their own MICR Codes.

Format of MICR Code on Cheque

The MICR Code consists of 9-digit identification code representing unique information about the bank and the branch. The unique 9-digit code represents mentioned below information-

• The first three-digits of MICR Code represent the city code
• The middle three-digits represents the bank code
• The last three-digits represent the branch code

Usage of MICR Code

Individuals require MICR Code in case of filling up financial transactions forms such as investment forms or SIPs for transferring funds. MICR Codes cannot be copied because of their unique font and use of magnetic link.

Where Can I Find MICR Code?

If you are searching for MICR Code on internet, make sure you visit the authentic website. In general, you can find MICR Code through two ways-

• At the bottom of the cheque
• Visiting the official website of the Reserve Bank of India

MICR Code – Example

The MICR Code for the Fort Branch of DBS Bank is 400641002 where,

• The first three digits (400) represents Mumbai – the city code
• The next three digits (641) represents DBS Bank
• The last three digits (002) represents the branch code for the Fort branch

Also, read more articles related to Cheque:

MICR Code on Cheque : FAQs