Indian Overseas Bank IFSC Code, MICR Code, Address, Contact Number for the Bagbari Branch in Assam


Indian Overseas Bank Bagbari Branch is Situated in Karimganj , Assam

IFSC Code for Indian Overseas Bank Bagbari Branch, in Karimganj


IOBA0002834

  • Bank Name   :Indian Overseas Bank
  • Bank Old IFSC Code   :NA
  • Bank New IFSC Code   :IOBA0002834
  • Bank MICR Code   :WAITING
  • Bank Address   :
    Ps English Basaar,Bagbari Vill 732102,Maliha P.O,Malda Dist
  • Bank Contact   :28584896
  • Bank City   :Kaliganj
  • Bank Branch   : Bagbari
  • Bank District   :Karimganj
  • Bank State   :Assam

About IFSC Codes in India

IFSC Code:

IFSC stands for Indian Financial System Code. It is a unique 11-digit alphanumeric code assigned to each bank branch in India by the Reserve Bank of India (RBI). It is used for electronic funds transfer using NEFT, RTGS, and IMPS.

Components of IFSC Code:

  • First four characters: Represent the bank code.
  • Fifth character: Always zero (0).
  • Last six characters: Identify the specific branch.
Example:

For example, the IFSC code for a branch of State Bank of India (SBI) might look like this: SBIN0001234.

  • SBIN: Bank code for State Bank of India.
  • 000: The fifth character is always zero.
  • 1234: Unique branch identifier.

About MICR (Magnetic Ink Character Recognition) Code

MICR stands for Magnetic Ink Character Recognition. It is a technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents. The MICR code is a set of numeric digits that are printed on the bottom of a cheque leaf. It includes information such as the bank, branch, and the account to which the cheque belongs.

Components of MICR Code:

Cheque Design:
  • The MICR code is typically printed using a special type of ink that contains iron oxide.
  • This ink allows the characters to be recognized and read by magnetic character recognition devices.
Position on Cheque:
  • The MICR code is usually printed near the bottom of the cheque.
  • It is commonly found to the right of the cheque number.
Format:
  • The MICR code is a series of nine digits.
  • The first three digits represent the city code.
  • The next three digits represent the bank code.
  • The last three digits represent the specific branch code.
Example:

Consider a fictional MICR code: 110456789.

  • The first three digits, 110, might represent the city code.
  • The next three digits, 456, could represent the bank code.
  • The last three digits, 789, might represent the branch code.
  • It's important to note that the specific structure and interpretation of MICR codes may vary from country to country.
  • The information provided here is a general overview, and for precise details, it is recommended to refer to the standards and practices in the respective banking system or country.

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