Karnataka Vikas Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. Karnataka Grameena Bank MICR code for Mugad is a 9 digit code, in which first 3 digit represents the city code, next 3 digit to bank code and later 3 digit to branch code. 580483505 is the MICR code of KVG Bank for Mugad branch. MICR code for Mugad branch includes document type indicator, bank code, cheque number, etc. When a cheque goes for clearing, this code is read by a magnetic reader and then automatically sorted. MICR code for Karnataka Grameena Bank Mugad is presented in the table alongside.
The MICR code 580483505 is used in RBI cheque clearing process to identify the branch Mugad and Karnataka Grameena Bank bank for clearing processes. The MICR characters, which are printed using magnetic ink, are passed before a MICR reader. Initially the ink gets magnetized and when it is read, each character produces a unique waveform which can be easily identified. MICR code of KVG Bank is typically in either of these two font’s: E-138 and CMC-7.