Indian Overseas Bank Baikunthpur (IOB)
Baikunthpur · Koriya, Chhattisgarh
495020502 is the MICR code for the Baikunthpur branch of Indian Overseas Bank, located in Koriya, Chhattisgarh. 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 IOBA0002657.
Bank
Indian Overseas Bank
Branch & Address
Baikunthpur
Plot no 7 Ward no 14 Jain Mandhir Road Baikunthpur Korea Chattisgarh 497335
Koriya, Baikunthpur, Chhattisgarh
Contact
+917836232181MICR Code Structure
495
City
020
Bank
502
Branch
City code 495 identifies the RBI clearing centre, bank code 020 identifies Indian Overseas Bank, and branch code 502 identifies this specific branch.
Online Payment Methods Supported
Other Indian Overseas Bank (IOB) branches near Koriya
Other banks in Koriya, Chhattisgarh
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 (IOBA0002657) 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 495020502 is in the middle, and your account number is on the right.