MICR Code- Magnetic Ink Character Recognition is a technology used for processing cheques in financial sector.
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On the cheques white area at the bottom is called MICR band/line, which have the following details....
1. Cheque Serial No. (6 digits)
MICR Code is 9 digit numeric code that identifies a Bank branch which is participating in the ECS system.
The MICR code consists of 9 digits - e.g 411229003
First 3 digits represent the city (411229003 )
Next 3 digits represent the bank (411229003 )
Last 3 digits represent the branch (411229003 )
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