National Electronic Fund Transfer (NEFT) is an online money transfer system which is supported by RBI. What is Indian Bank Andhra Pradesh Gachi Bowli Hyderabad NEFT? Minimum amount that can be transferred through RTGS is Rs. This gross basis transfer happens in realtime, hence the name. Real Time Gross Settlement (RTGS) is a fund transfer mechanism which is used to transfer money from one bank to another. What is Indian Bank Andhra Pradesh Hyderabad Gachi Bowli RTGS? Indian Financial System Code, Magnetic Ink Character Recognition, SWIFT Code, Address and Contact number of Indian Bank - Gachi Bowli branch in Hyderabad district which is in the state of Andhra Pradesh. MICR Code is printed on cheques and they allow the cheque to be processed easily. Magnetic Ink Character Recognition (MICR) is a printing technology that is used to print alpha-numeric details. The MICR code helps RBI in identifying the bank branch. It is used mainly by banks to process cheques faster.

MICR is a technology that helps in verifying the originality of cheques or other paper documents. The principal advantage of this system is that unlike similar concepts like barcodes, MICR can be easily distinguished and read by humans. MICR code itself can be seen placed on the bottom strip of the cheque and includes such details as the bank code, account details, cheque number and amount, alongside a control indicator. MICR code imbibes the cutting-edge character recognition technology that is used by banks to authenticate the clearance of cheques and other such documents. In terms of their real-world importance, MICR stands on par with IFSC where transfer of funds using NEFT or IMPS is concerned. The primary need for this innovation is to authenticate the originality and legality of paper based documents in the banking system and is majorly used on cheques. The full form of MICR is Magnetic Ink Character Recognition technology.

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