List of MICR Code, and address of all bank branches in India Find Verified MICR Code quickly to use for NEFT RTGS & IMPS transaction
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MICR code List of all banks in India is given below. Click for more information about the bank and its services. To find details of other banks, use the form below.
What is MICR Code?
The full form of MICR is Magnetic Ink Character Recognition technology. The primary need for this innovation is to authenticate the originality and legality of paper-based documents in the banking system and is majorly used on cheques. In terms of their real-world importance, MICR stands on par with IFSC where the transfer of funds using NEFT or IMPS is concerned.
MICR code imbibes the cutting-edge character recognition technology that is used by banks to authenticate the clearance of cheques and other such documents. MICR code itself can be seen placed on the bottom strip of the cheque and includes such details as the bank code, account details, cheque number, and amount, alongside a control indicator. The principal advantage of this system is that unlike similar concepts like barcodes, MICR can be easily distinguished and read by humans.
MICR Code India is an identification for the unique financial institution’s bank account. MICR stands for Magnetic Ink Character Recognition, which is a technology used to read magnetically encoded characters at the bottom of cheques and other paper-based documents.
The MICR Code India includes three distinct components:
1. The bank identification number (BIB)
2. The customer identification number (CIF)
3. The branch identification number (BIC).
This code helps banks to identify where the money has come from, who it belongs to and where it is going to be deposited into account.