DPSS (CO) RTGS No. 1934/04.04.002/2011-12

April 20, 2012

The Chairman and Managing Director /
Chief Executive Officer of all banks participating in RTGS, NEFT and NECS

Dear Sir/Madam,

Printing of MICR Code and IFSC Code on Passbook/Statement of Account

As you are aware, the MICR code is necessary for all Electronic Clearing Service (ECS – Credit and Debit) transactions. Similarly, the IFSC code is a pre-requisite for NEFT and RTGS transactions.

2. Currently, the MICR code is available on the cheque leaf along with the IFSC code of the branch. On a review it has been decided that this information should also be made available in the passbook / statement of account of the account holders.

3. Banks are accordingly advised to take necessary steps to provide this information as indicated above in all passbook / statement of account to their account holders.

4. Please acknowledge receipt and furnish an action taken report within 15 days of receipt of the circular.

Yours faithfully,

(Vijay Chugh)
Chief General Manager

More Under Fema / RBI

Posted Under

Category : Fema / RBI (3527)
Type : Notifications (15996) Notifications/Circulars (32366)
Tags : RBI Notifications (1996)

0 responses to “MICR & IFSC Code on Passbook /Bank Statement mandatory”

  1. Rahul says:

    Now a days there are so many site which are providing Details of Bank IFSC code and branch address with contact numbers. you can choose one of them to solve your IFSC code problems.


    plz isshue me e passbook of my pf account no ng nag n 63397 2343

  3. KLM says:

    Request banks to stop advertising on the e statements of bank accounts and also the credit card statements, as printing at customer side involves wastage of ink and paper.

  4. CMA Arif Farooqui says:

    A very gud move

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