Maharashtra Gramin Bank Kapsi
Kapsi · Nanded, Maharashtra
431570623 is the MICR code for the Kapsi branch of Maharashtra Gramin Bank, located in Nanded, 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 MAHG0004122.
Bank
Maharashtra Gramin Bank
Branch & Address
Kapsi
At Kapsi Tq Loha Dist Nanded
Nanded, Kapsi, Maharashtra
Contact
+912466252138MICR Code Structure
431
City
570
Bank
623
Branch
City code 431 identifies the RBI clearing centre, bank code 570 identifies Maharashtra Gramin Bank, and branch code 623 identifies this specific branch.
Online Payment Methods Supported
Other Maharashtra Gramin Bank branches near Nanded
Other banks in Nanded, 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 (MAHG0004122) 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 431570623 is in the middle, and your account number is on the right.