MICR Code: 582887002
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 582887002.
- In this case first three codes 582 is city code and it represents city Gadag.
- Next three characters 887 represents bank IDBI Bank.
- Remaining characters which are 002 represents branch. In our case branch is located at address Apmc Road, Gadag.
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.