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What Is MICR Code.?

Magnetic Ink Character Recognition, or MICR, is a character recognition technology used primarily by the banking industry to facilitate the processing of cheques. ... The characters are usually printed on the bottom strip of cheque leaf. In India in 1980 this unique system of MICR based cheque clearing system was introduced first time. Apart from being a security bar code to protect your transaction, the MICR code is also an indispensable part for online money transfers. Every bank branch is given a unique MICR code and this helps the RBI to identify the bank branch and speed up the clearing process.


You can also get the complete details of all the branch by entering Bank MICR Codes.