State Bank of India Nacin Palasamudram (SBI)
Nacin Palasamudram · Palasamudram, Andhra Pradesh
515002030 is the MICR code for the Nacin Palasamudram branch of State Bank of India, located in Palasamudram, Andhra 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 SBIN0064829.
Bank
State Bank of India
Branch & Address
Nacin Palasamudram
State Bank of India, Regional Business Office, Dharmavaram, 1st Floor, Pothukunta Road, Beside Lakshmi Fuels, Dharmavaram, Sri Sathya Sai District, 515671
Palasamudram, Palasamudram, Andhra Pradesh
Contact
+919618288866MICR Code Structure
515
City
002
Bank
030
Branch
City code 515 identifies the RBI clearing centre, bank code 002 identifies State Bank of India, and branch code 030 identifies this specific branch.
Online Payment Methods Supported
Other State Bank of India (SBI) branches near Palasamudram
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 (SBIN0064829) 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 515002030 is in the middle, and your account number is on the right.