MICR Code Bank
Find MICR code for Indian Overseas Bank branches in India for NEFT and RTGS transfer

Indian Overseas Bank MICR CODE

Find MICR Codes for Indian Overseas Bank

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  1. Indian Overseas Bank »
  2. New Delhi »
  3. new delhi »
  4. delhi »
  5. daryaganj

Find MICR Codes for Indian Overseas Bank

MICR Code: 110020003
Bank: Indian Overseas Bank
Business Hours:
Mode Of Payment: Cash,Cheque,Demand Draft and Net banking
Branch: Daryaganj
Contact: P Suresh Kumar, Senior Manager, Indian Overseas Bank, Funds Department, Central Office, Phone-044-28519488, Email:Funds@iobnet.Co.In
Bank Details: Indian Overseas Bank Daryaganj IOBA0000017
Location: Delhi, New Delhi
City: Delhi
District: New Delhi
State: New Delhi
Pincode: 110002
Country: IN
Address: 5, daryaganj ,nethaji subhash marg,new delhi -110002

How does MICR code for branch help to speed up the cheque clearing process?

In manual clearing of cheques, many errors may occur and the whole process is quite time consuming. The MICR technology speeds up the processing of cheque as it reduces manual efforts of sorting. Thus the of IOB Bank, branch makes the system almost error free and faster. Use of IOB Bank MICR codes for branch, makes the characters readable even if there are other marks and stamps on it.

MICR code for Indian Overseas Bank

Indian Overseas Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. IOB Bank MICR code for 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. is the MICR code of Overseas Bank for branch. MICR code for 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 IOB Bank is presented in the table alongside.

Use of IOB Bank MICR code for branch in delhi

The MICR code is used in RBI cheque clearing process to identify the branch and IOB Bank 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 Overseas Bank is typically in either of these two font’s: E-138 and CMC-7.