Indusind Bank Malegaon
Malegaon · Nashik, Maharashtra
423234101 is the MICR code for the Malegaon branch of Indusind Bank, located in Nashik, 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 INDB0001593.
Bank
Indusind Bank
Branch & Address
Malegaon
Ground Mezzanine Floor Shop no 5 Santosh Arcade Near Shivaji Statue Old Agra Road Malegaon 423203
Nashik, Malegaon, Maharashtra
Contact
+912554231616MICR Code Structure
423
City
234
Bank
101
Branch
City code 423 identifies the RBI clearing centre, bank code 234 identifies Indusind Bank, and branch code 101 identifies this specific branch.
Online Payment Methods Supported
Other Indusind Bank branches near Nashik
Other banks in Nashik, 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 (INDB0001593) 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 423234101 is in the middle, and your account number is on the right.