Indian Overseas Bank Mudhol (IOB)
Mudhol · Adilabad, Andhra Pradesh
587020501 is the MICR code for the Mudhol branch of Indian Overseas Bank, located in Adilabad, 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 IOBA0002295.
Bank
Indian Overseas Bank
Branch & Address
Mudhol
CTS 2628 Anjuman Complex, Opp Ksrtc Bus Stand, Mudhol 587313
Adilabad, Mudhol, Andhra Pradesh
Contact
280205MICR Code Structure
587
City
020
Bank
501
Branch
City code 587 identifies the RBI clearing centre, bank code 020 identifies Indian Overseas Bank, and branch code 501 identifies this specific branch.
Online Payment Methods Supported
Other Indian Overseas Bank (IOB) branches near Adilabad
Other banks in Adilabad, Andhra 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 (IOBA0002295) 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 587020501 is in the middle, and your account number is on the right.