Thursday 27 April 2017

Whats is MICR code? - How it Works?

MICR CODE

Earlier this month there was some newspaper reports regarding however a purported bank in Bengaluru known pretend demand drafts (DD), and alerted the police. during this case the bar codes within the pretend DDs lacked ink and weren't decipherable on the MICR and this together with different very important clues helped stop the fraud.

So, in an exceedingly manner the MICR codes saved the day for the bank! but, this is often not the sole use of MICR! There area unit more uses. however before that permit U.S.A. see what the MICR is all about! What will it comprise of? most significantly however is it helpful to you? you can search branch address, phone number, IFSC code through MICR code

MICR code

What is MICR?

Many of you'd have seen the magnetic inks bar codes written on rock bottom of your bank's cheque leaves. These bar codes area unit called MICR code, associate abbreviation for 'Magnetic Ink Character Recognition'.

Actually, the MICR is that the name given to the technology utilized in printing the code.

In the early Nineteen Eighties the bank of Republic of India introduced several new modes for safe and effective payments across the country. One such necessary mode introduced was the distinctive system of MICR primarily based cheque clearing system.

Apart from being a security code to safeguard your group action, the MICR code is additionally an imperative half for on-line cash transfers. each bank branch is given a singular MICR code and this helps the run to spot the bank branch and speed up the clearing method. you can also know ... What is IFSC code

What will it comprise?

The MICR code has 9 digits in it with every 3 digits signifying some necessary data regarding the group action and also the bank. the primary 3 digits within the MICR code represent town code that's town within which the bank branch is found.

In most cases it's in line with the PIN code of the communication addresses in Republic of India.

The next 3 digits represent the bank code whereas the last 3 digits represent the bank branch code.

For example, if you have got associate account with bank of Republic of India (SBI) urban center (Central) then its 9 digit MICR code are going to be 400002009 wherein:

400, the primary 3 digits representing town code for Mumbai;

002, ensuing 3 digits representing the bank code for SBI;

And 009, the last 3 digits representing the bank branch code for Andheri (West).

You can check the MICR codes of various banks and its branches by checking it out on the run web site. To like our page on Facebook for updates

How will MICR facilitate speed up the process of cheques?

Unlike the manual clearing of cheques wherever there's a prospect of the many human errors and ulterior delay in clearing, the MICR code on the cheque written with a singular ink typically iron compound has magnetic material gift in it and so makes it machine-readable and nearly error proof! All Bank Branches IFSC code and MICR code list

Under this methodology the reading machine or a cheque sorting machine reads through a cheque once inserted and identifies the branch the cheque belongs to and activates the automation clearing method.

The MICR code is therefore clear and fine that the machine might scan it albeit the MICR code is not visible thanks to different marks or stamps on that.

According to the bank of Republic of India report (Payments in India: Vision 2009-2012), all bank branches are going to be enabled with MICR codes. For State Bank of India SBI MICR CODE & IFSC CODE

Also, the run intends to scale back paper-based clearing method by introducing MICR- Cheque process Centres that may method over ninety five per cent of volume and price of cheques processed within the country.

Monday 24 April 2017

IFSC code list of All Bank & Branches in India

Find IFSC Code victimization the Lists below...

First choose your bank, choose the state, currently choose your district and eventually choose the branch of your bank to seek out IFSC Code. If you wish to alter any search list term, please use menu or search.All Banks and Branches in India

 ABHYUDAYA COOPERATIVE BANK LIMITED ABU DHABI COMMERCIAL BANK AHMEDABAD MERCANTILE COOPERATIVE BANK AIRTEL PAYMENTS BANK LIMITED AKOLA JANATA COMMERCIAL COOPERATIVE BANK ALLAHABAD BANK ALMORA URBAN COOPERATIVE BANK LIMITED ANDHRA BANK ANDHRA PRAGATHI GRAMEENA BANK APNA SAHAKARI BANK LIMITED AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED AXIS BANK B N P PARIBAS BANDHAN BANK LIMITED BANK INTERNASIONAL INDONESIA BANK OF AMERICA BANK OF BAHARAIN AND KUWAIT BSC BANK OF BARODA BANK OF CEYLON BANK OF INDIA BANK OF MAHARASHTRA BANK OF TOKYO MITSUBISHI LIMITED BARCLAYS BANK BASSEIN CATHOLIC COOPERATIVE BANK LIMITED BHARAT COOPERATIVE BANK MUMBAI LIMITED BHARATIYA MAHILA BANK LIMITED CANARA BANK CAPITAL SMALL FINANCE BANK LIMITED CATHOLIC SYRIAN BANK LIMITED CENTRAL BANK OF INDIA CHINATRUST COMMERCIAL BANK LIMITED CITI BANK CITIZEN CREDIT COOPERATIVE BANK LIMITED CITY UNION BANK LIMITED COMMONWEALTH BANK OF AUSTRALIA CORPORATION BANK CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK CALYON BANK CREDIT SUISEE AG DCB BANK LIMITED DENA BANK DEOGIRI NAGARI SAHAKARI BANK LTD. AURANGABAD DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION DEUSTCHE BANK DEVELOPMENT BANK OF SINGAPORE DHANALAKSHMI BANK DOHA BANK DOHA BANK QSC DOMBIVLI NAGARI SAHAKARI BANK LIMITED EQUITAS SMALL FINANCE BANK LIMITED ESAF SMALL FINANCE BANK LIMITED EXPORT IMPORT BANK OF INDIA FEDERAL BANK FIRSTRAND BANK LIMITED G P PARSIK BANK GURGAON GRAMIN BANK HDFC BANK HIMACHAL PRADESH STATE COOPERATIVE BANK LTD HSBC BANK HSBC BANK OMAN SAOG ICICI BANK LIMITED IDBI BANK IDFC BANK LIMITED IDUKKI DISTRICT CO OPERATIVE BANK LTD INDIAN BANK INDIAN OVERSEAS BANK INDUSIND BANK INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED INDUSTRIAL BANK OF KOREA JALGAON JANATA SAHAKARI BANK LIMITED JAMMU AND KASHMIR BANK LIMITED JANAKALYAN SAHAKARI BANK LIMITED JANASEVA SAHAKARI BANK BORIVLI LIMITED JANASEVA SAHAKARI BANK LIMITED JANATA SAHAKARI BANK LIMITED JP MORGAN BANK KALLAPPANNA AWADE ICHALKARANJI JANATA SAHAKARI BANK LIMITED KALUPUR COMMERCIAL COOPERATIVE BANK KALYAN JANATA SAHAKARI BANK KAPOL COOPERATIVE BANK LIMITED KARNATAKA BANK LIMITED KARNATAKA VIKAS GRAMEENA BANK KARUR VYSYA BANK KEB Hana Bank KERALA GRAMIN BANK KOTAK MAHINDRA BANK LIMITED LAXMI VILAS BANK MAHANAGAR COOPERATIVE BANK Maharashtra Gramin Bank MAHARASHTRA STATE COOPERATIVE BANK MASHREQBANK PSC MIZUHO BANK LTD NAGAR URBAN CO OPERATIVE BANK NAGPUR NAGARIK SAHAKARI BANK LIMITED NATIONAL AUSTRALIA BANK LIMITED NATIONAL BANK OF ABU DHABI PJSC NEW INDIA COOPERATIVE BANK LIMITED NKGSB COOPERATIVE BANK LIMITED NORTH MALABAR GRAMIN BANK NUTAN NAGARIK SAHAKARI BANK LIMITED OMAN INTERNATIONAL BANK SAOG ORIENTAL BANK OF COMMERCE PRAGATHI KRISHNA GRAMIN BANK PRATHAMA BANK PRIME COOPERATIVE BANK LIMITED PT BANK MAYBANK INDONESIA TBK PUNJAB AND MAHARSHTRA COOPERATIVE BANK PUNJAB AND SIND BANK PUNJAB NATIONAL BANK RABOBANK INTERNATIONAL RAJGURUNAGAR SAHAKARI BANK LIMITED RAJKOT NAGRIK SAHAKARI BANK LIMITED RBL Bank Limited RESERVE BANK OF INDIA , PAD RESERVE BANK OF INDIA, PAD SAHEBRAO DESHMUKH COOPERATIVE BANK LIMITED SAMARTH SAHAKARI BANK LTD SARASWAT COOPERATIVE BANK LIMITED SBER BANK SBM BANK MAURITIUS LIMITED SHIKSHAK SAHAKARI BANK LIMITED SHINHAN BANK SHIVALIK MERCANTILE CO OPERATIVE BANK LTD SHRI CHHATRAPATI RAJASHRI SHAHU URBAN COOPERATIVE BANK LIMITED SOCIETE GENERALE SOLAPUR JANATA SAHAKARI BANK LIMITED SOUTH INDIAN BANK STANDARD CHARTERED BANK STATE BANK OF BIKANER AND JAIPUR STATE BANK OF HYDERABAD STATE BANK OF INDIA STATE BANK OF MAURITIUS LIMITED STATE BANK OF MYSORE STATE BANK OF PATIALA STATE BANK OF TRAVANCORE SUMITOMO MITSUI BANKING CORPORATION SURAT NATIONAL COOPERATIVE BANK LIMITED SURYODAY SMALL FINANCE BANK LIMITED SUTEX COOPERATIVE BANK LIMITED SYNDICATE BANK TAMILNAD MERCANTILE BANK LIMITED TELANGANA STATE COOP APEX BANK THE A.P. MAHESH COOPERATIVE URBAN BANK LIMITED THE AKOLA DISTRICT CENTRAL COOPERATIVE BANK THE ANDHRA PRADESH STATE COOPERATIVE BANK LIMITED THE BANK OF NOVA SCOTIA THE BARAMATI SAHAKARI BANK LTD THE COSMOS CO OPERATIVE BANK LIMITED THE DELHI STATE COOPERATIVE BANK LIMITED THE GADCHIROLI DISTRICT CENTRAL COOPERATIVE BANK LIMITED THE GREATER BOMBAY COOPERATIVE BANK LIMITED THE GUJARAT STATE COOPERATIVE BANK LIMITED THE HASTI COOP BANK LTD THE JALGAON PEOPELS COOPERATIVE BANK LIMITED THE KANGRA CENTRAL COOPERATIVE BANK LIMITED THE KANGRA COOPERATIVE BANK LIMITED THE KARAD URBAN COOPERATIVE BANK LIMITED THE KARANATAKA STATE COOPERATIVE APEX BANK LIMITED THE KURMANCHAL NAGAR SAHAKARI BANK LIMITED THE MEHSANA URBAN COOPERATIVE BANK THE MUMBAI DISTRICT CENTRAL COOPERATIVE BANK LIMITED THE MUNICIPAL COOPERATIVE BANK LIMITED THE NAINITAL BANK LIMITED THE NASIK MERCHANTS COOPERATIVE BANK LIMITED THE NAVNIRMAN CO-OPERATIVE BANK LIMITED THE PANDHARPUR URBAN CO OP. BANK LTD. PANDHARPUR THE RAJASTHAN STATE COOPERATIVE BANK LIMITED THE ROYAL BANK OF SCOTLAND N V THE SEVA VIKAS COOPERATIVE BANK LIMITED THE SHAMRAO VITHAL COOPERATIVE BANK THE SURAT DISTRICT COOPERATIVE BANK LIMITED THE SURATH PEOPLES COOPERATIVE BANK LIMITED THE TAMIL NADU STATE APEX COOPERATIVE BANK THE THANE BHARAT SAHAKARI BANK LIMITED THE THANE DISTRICT CENTRAL COOPERATIVE BANK LIMITED THE VARACHHA COOPERATIVE BANK LIMITED THE VISHWESHWAR SAHAKARI BANK LIMITED THE WEST BENGAL STATE COOPERATIVE BANK THE ZOROASTRIAN COOPERATIVE BANK LIMITED TJSB SAHAKARI BANK LIMITED TJSB SAHAKARI BANK LTD TUMKUR GRAIN MERCHANTS COOPERATIVE BANK LIMITED UCO BANK Ujjivan Small Finance Bank Limited UNION BANK OF INDIA UNITED BANK OF INDIA UNITED OVERSEAS BANK LIMITED VASAI VIKAS SAHAKARI BANK LIMITED VASAI VIKAS SAHAKARI BANK LTD VIJAYA BANK WESTPAC BANKING CORPORATION WOORI BANK YES BANK ZILA SAHAKRI BANK LIMITED GHAZIABAD