Indian Overseas Bank Shajapur (IOB)
Shajapur · Shajapur, Madhya Pradesh
465020003 is the MICR code for the Shajapur branch of Indian Overseas Bank, located in Shajapur, Madhya Pradesh. 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 IOBA0004015.
Bank
Indian Overseas Bank
Branch & Address
Shajapur
Indian Overseas Bank, Ground Floor, Building No. 8a, Ward No.1, Infront of Gayatri Mandir, Dr Rajendra Prasad Marg, Shajapur, Madhya Pradesh, PIN 465001
Shajapur, Shajapur, Madhya Pradesh
MICR Code Structure
465
City
020
Bank
003
Branch
City code 465 identifies the RBI clearing centre, bank code 020 identifies Indian Overseas Bank, and branch code 003 identifies this specific branch.
Online Payment Methods Supported
Other Indian Overseas Bank (IOB) branches near Shajapur
Other banks in Shajapur, Madhya Pradesh
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 (IOBA0004015) 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 465020003 is in the middle, and your account number is on the right.