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The MICR code for a INDIAN OVERSEAS BANK is a machine readable code that is used for processing and clearance of cheques.
The code helps to identify the bank branch to which the cheque belongs. It is used when cheque goes for clearing, where the magnetic reader reads the code and it gets sorted automatically.
This code speeds up the clearance process.
The MICR code for INDIAN OVERSEAS BANK is printed on the bottom of every cheque leaf of the INDIAN OVERSEAS BANK.
500020022 the MICR code of INDIAN OVERSEAS BANK,AbidsAndhra Pradesh.