Micr Code Of Bank. MICR Code: Magnetic Ink Character Recognition as printed on cheque book to facilitate the processing of cheques. Magnetic Ink Character Recognition (MICR) code is used for processing and clearance of cheques and other documents in India.
MICR code is used to enhance and improve security with regard to money transactions between the banks. Search MICR Codes of Bank Branches in india. But I had been thinking since few months as to why bank branches have two IDs, MICR & IFSC.
Find Bank IFSC Code MICR No SWIFT Code. -- Select Bank Name -- AXIS Bank Bank of Baroda (BOB) Bank of India (BOI) Canara Bank Central Bank of India HDFC Bank ICICI Bank Indian Overseas Bank (IOB) Punjab National Bank (PNB) State Bank of Hyderabad (SBH).
Please choose correct name of the.
Some banks do not have MICR code and therefore they are called non-MICR code, which I did not know earlier. You can find MICR or IFSC codes of all branches across Indian at www.indiancodes.org Its quite faster too. MICR Code is used for processing cheques easily.