Industrial Bank Of Korea MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IBK MICR code for New Delhi Branch is a 9 digit code, in which first 3 digit represents the city code, next 3 digit to bank code and later 3 digit to branch code. 110744001 is the MICR code of Industrial Bank Of Korea for New Delhi Branch branch. MICR code for New Delhi Branch branch includes document type indicator, bank code, cheque number, etc. When a cheque goes for clearing, this code is read by a magnetic reader and then automatically sorted. MICR code for IBK New Delhi Branch is presented in the table alongside.
The MICR code 110744001 is used in RBI cheque clearing process to identify the branch New Delhi Branch and IBK bank for clearing processes. The MICR characters, which are printed using magnetic ink, are passed before a MICR reader. Initially the ink gets magnetized and when it is read, each character produces a unique waveform which can be easily identified. MICR code of Industrial Bank Of Korea is typically in either of these two font’s: E-138 and CMC-7.