State Bank of India New Market Malakpet (SBI)
New Market Malakpet · Hyderabad, Telangana
500002566 is the MICR code for the New Market Malakpet branch of State Bank of India, located in Hyderabad, Telangana. 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 SBIN0063932.
Bank
State Bank of India
Branch & Address
New Market Malakpet
Tck Reddy Towers, 16-10/27/105/3 to 18, Mch Colony, Malakpet Main Road, Near New Market Metro Station, Hydebad-500036
Hyderabad, Hyderabad, Telangana
Contact
+919959670566MICR Code Structure
500
City
002
Bank
566
Branch
City code 500 identifies the RBI clearing centre, bank code 002 identifies State Bank of India, and branch code 566 identifies this specific branch.
Online Payment Methods Supported
Other State Bank of India (SBI) branches near Hyderabad
Other banks in Hyderabad, Telangana
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 (SBIN0063932) 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 500002566 is in the middle, and your account number is on the right.