Which bank does MICR code 587831501 belong to?

MICR code 587831501 belongs to Axis Bank, Laxmi Sahakari Bank Niyamit branch, located at Near Tmc Main Road Guledgudda 587203, Bagalkote, Karnataka. The corresponding IFSC code is UTIB0SLSBNG.

What is the IFSC code for MICR 587831501?

The IFSC code for Axis Bank Laxmi Sahakari Bank Niyamit branch (MICR: 587831501) is UTIB0SLSBNG. Use the IFSC code for NEFT, RTGS, IMPS, and UPI transfers. Use the MICR code for cheque clearance.

What do the digits in a MICR code mean?

A 9-digit MICR code has three parts: the first 3 digits (587) represent the city/clearing centre, the next 3 digits (831) identify the bank, and the last 3 digits (501) identify the specific branch. For 587831501, the city code is 587, bank code is 831, and branch code is 501.

Axis Bank Laxmi Sahakari Bank Niyamit

Laxmi Sahakari Bank Niyamit · Bagalkote, Karnataka

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587831501

587831501 is the MICR code for the Laxmi Sahakari Bank Niyamit branch of Axis Bank, located in Bagalkote, Karnataka. 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 UTIB0SLSBNG.

Bank

Axis Bank

Branch & Address

Laxmi Sahakari Bank Niyamit

Near Tmc Main Road Guledgudda 587203

Bagalkote, Guledagudda, Karnataka

Contact

+918357250310

Codes for this Branch

MICR (cheques)

587831501

IFSC (online transfers)

UTIB0SLSBNG

View

MICR Code Structure

587

City

831

Bank

501

Branch

City code 587 identifies the RBI clearing centre, bank code 831 identifies Axis Bank, and branch code 501 identifies this specific branch.

Online Payment Methods Supported

NEFT

RTGS

IMPS

UPI

Other Axis Bank branches near Bagalkote

Bilagi Pattan Sahakari Bank Niyamit Bagalkote, Karnataka UTIB0SBPSBB Ilkal Bagalkote, Karnataka UTIB0002560 Mudhol Bagalkote, Karnataka UTIB0002023 The Bagalkot Cooperative Bank Bagalkote, Karnataka UTIB0STBCBL Abhyudaya Mahila Urban Coop Bank Bangalore Rural, Karnataka UTIB0SAMUCB Adarsha Pattana Sohardha Sahakari Davangere, Karnataka UTIB0SAPSSB

Other banks in Bagalkote, Karnataka

AU Small Finance Bank 3 branches Bank of Baroda 16 branches Bank of India 2 branches Bank of Maharashtra 4 branches Canara Bank 33 branches Central Bank of India 4 branches Federal Bank 1 branch HDFC Bank 4 branches

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 (UTIB0SLSBNG) 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 587831501 is in the middle, and your account number is on the right.

View full branch details for IFSC UTIB0SLSBNG