![]() Normally, the 9 digit code MICR Code can be found printed on the cheque book for NEFT enabled banks. All the cheque based transactions are processed quickly with the help of MICR Codes. Of late, almost all bank branches in India are enabled with MICR codes. The machine can read the MICR code even if there is some stamp mark or some other mark over it. It then activates the automation clearing process. ![]() In the MICR clearing process, the reading machine or the cheque sorting machine reads the cheque when inserted and then identifies the branch the cheque belongs to. ![]() The MICR code on the cheque which is printed with a unique magnetic ink (usually iron oxide) has a magnetic material present in it which makes it machine-readable as well as error proof. There is a possibility of many human errors in manual clearing of cheques which can subsequently lead to delay in clearing. ![]() How does MICR help speed up the processing of cheques? You can get the MICR code of any bank branch from the website of the Reserve Bank of India.
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