MICR codes for Industrial Bank Of Korea in New Delhi are given in the table alongside. Address, contact numbers and other details are also provided along with the MICR code. Narrow down your search either by selecting any particular district from the drop down list or by selecting the district from IBK MICR codes list given on the right side. One can find MICR codes for all IBK branches in New Delhi here.
Industrial Bank Of Korea MICR code in New Delhi state is a standard 9 digit code printed on cheques using a special type of ink. This ink or toner is magnetic and contains iron oxide. IBK MICR number includes the document type indicator, bank code, cheque number, etc. This code is used to identify bank and account information to which the cheque belongs. The main purpose of IBK MICR code for New Delhi branches is to make clearance process of cheques faster and without errors.
The IBK MICR code for New Delhi branches allows the cheque information to be read automatically by passing it before an MICR reader. Each character produces a specific pattern which can be easily identified. Industrial Bank Of Korea New Delhi MICR code uses typically either of these two fonts E-138 and CMC-7. The MICR technology makes the characters legible even if they are obscured by stamps and signatures. This code is used By RBI (Reserve bank Of India) in clearing process to identify the branch and bank. The principal purpose of IBK MICR code for New Delhi branches is to print accounting and routing information on cheques and other documents in a machine readable format in order to speed up the clearing process.