The magnetic ink character recognition (MICR) line is the strip of characters on a check that identifies the account, routing, and check number.

For instance, in the MICR code 400240019, 400 denotes Mumbai, 240 denotes HDFC Bank Ltd and 019 denotes the branch of the bank located in Apollo Bunder, Mumbai. What’s my significance.

The IFSC and MICR codes of all branches of erstwhile Lakshmi Vilas Bank have changed after the amalgamation with DBS Bank India. “While the new codes have been active since October 25, 2021, the ...