Indian Overseas Bank New Panvel (IOB)
New Panvel · Raigad, Maharashtra
400020046 is the MICR code for the New Panvel branch of Indian Overseas Bank, located in Raigad, Maharashtra. MICR codes are printed on cheque leaves and used by the RBI's Cheque Truncation System (CTS) for cheque clearing. For online transfers, use the IFSC code IOBA0001425.
Bank
Indian Overseas Bank
Branch & Address
New Panvel
Pl no 13 B Prajapati House Sector 19 Panvel Matheran New Panvel East PIN 410206
Raigad, Panvel, Maharashtra
Contact
7458899MICR Code Structure
400
City
020
Bank
046
Branch
City code 400 identifies the RBI clearing centre, bank code 020 identifies Indian Overseas Bank, and branch code 046 identifies this specific branch.
Online Payment Methods Supported
Other Indian Overseas Bank (IOB) branches near Raigad
Other banks in Raigad, Maharashtra
About MICR Codes
What is a MICR code used for?
MICR (Magnetic Ink Character Recognition) codes are printed on cheque leaves using special magnetic ink. They are read by cheque processing machines and used by the RBI's Cheque Truncation System (CTS) to process and clear cheque payments between banks. Each MICR code uniquely identifies a bank branch for cheque clearing purposes.
MICR vs IFSC — when do I use which?
Use MICR when paying by cheque — it's already printed on your cheque leaf and used automatically during clearing. Use IFSC (IOBA0001425) when making online transfers via NEFT, RTGS, IMPS, or UPI — banks ask for IFSC when you add a beneficiary for online payments.
Where is the MICR code on a cheque?
The MICR code is printed at the bottom of every cheque leaf in a distinctive machine-readable font, using magnetic ink. It appears in the centre of the three numbers at the bottom — the cheque number is on the left, the MICR code 400020046 is in the middle, and your account number is on the right.