MICR Code: 160013020
| Bank: Bank of India |
| IFSC Code: Bkid0006572 |
| MICR Code: 160013020 |
| Address: Paras Bank Square, Chandigarh- Ambala Roadderabassi, Distt Sas Nagar Mohali |
| City: Derra Bassi |
| District: Derra Bassi |
| State: Punjab |
MICR is acronym of Magnetic Ink Character Recognition. Basically it is a character-recognition technology used by the banking industry to ease the processing and clearance of cheques and other documents.
Generally MICR code is nine character long. First three charaters represent city, next three charaters represents bank name and last three charaters represents bank branch.
Let's decode MICR code 160013020.
- In this case first three codes 160 is city code and it represents city Derra Bassi.
- Next three characters 013 represents bank Bank of India.
- Remaining characters which are 020 represents branch. In our case branch is located at address Paras Bank Square, Chandigarh- Ambala Roadderabassi, Distt Sas Nagar Mohali.
The easiest way to find MICR code is to check your
- Bank account statement
- Cheques
Please examine below sample cheque for more details
I hope this clears doubts.