MICR Code: 402259503
| Bank: IDBI Bank |
| IFSC Code: Ibkl0001424 |
| MICR Code: 402259503 |
| Address: Grampanchayat Bldg, Grd Flr, Opp. Lake, At Post Nandvi, Tal. Mangaon, Dist. Raigad 402103 |
| City: Raigad |
| District: Mangaon |
| State: Maharashtra |
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 402259503.
- In this case first three codes 402 is city code and it represents city Raigad.
- Next three characters 259 represents bank IDBI Bank.
- Remaining characters which are 503 represents branch. In our case branch is located at address Grampanchayat Bldg, Grd Flr, Opp. Lake, At Post Nandvi, Tal. Mangaon, Dist. Raigad 402103.
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.