2.Bank code: The next three digits of MICR specify your bank in thatparticular city. 3.Branch code: The last three digits of MICR help in figuring out the specific branch of the specific bank.

For instance, in the MICR code 400240019, 400 denotes Mumbai, 240 denotes HDFC Bank Ltd and 019 denotes the branch of the bank located in Apollo Bunder, Mumbai. What’s my significance ...

Also, the RBI intends to reduce paper-based clearing process by introducing MICR- Cheque Processing Centres that will process over 95 per cent of volume and value of cheques processed in the country.

This story is from March 10, 2021 Erstwhile Syndicate Bank cheque books, IFSC & MICR codes valid till June 30 Mamtha Asokan / TNN / Mar 10, 2021, 23:42 IST Follow us ...