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Q.

What is MICR Code in banking Terms?

Asked by Vinod Kumar Nambiar, 20 Jul '07 03:00 pm
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Answers (25)

1.

MICR - Magnetic Ink Character Recognition is a technology to processing cheques. In cheques whitw area in bottom is called MICR band/line, which have the following details....
1. Cheque Serial No. (6 digits)
2. Sort field or the city/bank/branch code number consisting of nine digits followed by a delimiter. The first three digits represent the city,
the next three indicate the bank and the last three digits signify the branch. The nine digit sort code is unique for any bank branch in the
country.
3. Account number field consisting of six digits followed by a delimiter is an optional field. In the case of Government Cheques issued by
RBI alone, the account number is of seven digits. The Government Account number is 10 digits in length-7 digits occurring in the Account
number field and three in the transaction code field.
4. Transaction code field comprising of two digits in all instruments except Government cheques drawn on RBI which have a 3 digit
transaction code. Control doc ...more
Answered by surendra singh, 06 Jun '08 10:22 am

 
  
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2.

It is 12 digit no. written on cheques
Answered by amit gupta, 08 Jan '08 05:24 pm

 
  
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3.

MICR stands for Magnetic ink character recoginition. The strip is basically bottom strip of cheque where information about chq no, city cide, bank code and branch code is given . This MICR code is used in RBI clearing process to identify the branch and bank for clearing processes.

Answered by sukhbir mann, 08 Jan '08 02:45 pm

 
  
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4.

As everyone said it's the Magnetic Ink Character Recognition and in unique for every branch of Indian banks. You can find this on your check. You can MICR codes of Hyderabad banks here http://indianbanks.tripod.com/city/micr-code-hyderabad-banks.html
Answered by Yathi Krishna Akkineni, 11 Aug '08 11:02 am

 
  
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5.

MICR- Magnetic Ink Character Recognition.
To make NEFT(National Electronic Fund Transfer) Quick and efficient RBi introduced 9 digit MICR code,in which first 3 digit corresponds to city code,next 3 digit to bank code and later 3 digit to branch code.
Answered by mathan royalz, 23 Jun '08 11:54 am

 
  
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6.

Magnetic Ink Character Recognition (MIR)
Answered by Narayanan Panchapakesan, 26 Jan '08 07:24 pm

 
  
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7.

MICR is Magnetic Ink Character Recognistion. It is 9 digits mentioned on white strip of big sized cheque mostly starts with first 3 digit of pincode of city of Bank
Answered by NITIN POTADE, 09 Jan '08 12:58 pm

 
  
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8.

No idea
Answered by mohamed atiq, 08 Jan '08 05:42 pm

 
  
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9.

Micr code is the number which is on the white strip which denote the branch code it is a number which shows the cheque is can be cleared in other branch of same ............
Answered by sharad nair, 08 Jan '08 04:34 pm

 
  
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10.

MICR- (Magnetic Ink Character Recognition)
Answered by Abha Kapoor, 20 Jul '07 03:07 pm

 
  
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