MICR Code Line Structure – Part 2(a) – Sort field or the city/bank/branch code number
This Post is in continuation of earlier post dt.06/05/2010
The 2nd part of the MICR Code Line Structure is the Unique MICR Code.
This field consists of nine digits followed by a delimiter.
The first three digits represent the city.
The next three indicate the bank.
The last three digits signify the branch.
The nine digit sort code is unique for any bank branch in the country.
A sample of the MICR City Codes are given here
DETAILS OF CITY CODES
City City Code
New Delhi 110
Did you notice anything special?
The MICR Codes of the cities start with the Pincode Numbers of the respective cities.
RBI has found out a simple and effective way to allot MICR Codes.
The Pincodes are a great tool, and established ones.
Sub-members are required to present and receive the clearing instruments through a Sponsor Bank who is a (direct) member of the Clearing House.
The branch code is the last three digits of the nine digit sort code and is unique to a branch in a city. Allotment of branch codes is by the President of the Clearing House of which the Bank is a member; generally the service branch of a bank is allotted the branch code of ‘001’.
Q: What about MICR Codes to Sub-Members of banks?
Yes, they are still few banks which are sub-members of Banks, especially Co-operative Banks.
Ans: A sub-member will be treated as if it were a branch of the sponsoring bank. It would have the bank code number allotted to the sponsor bank to be followed by the branch code which would normally commence from 251