Sbm Bank MICR (Magnetic Ink Character Recognition) code is a machine readable code used for processing and clearance of cheques. State Bank Of Mysore MICR code for Basaveshwara Nagar 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. 583006111 is the MICR code of Sbm Bank for Basaveshwara Nagar branch. MICR code for Basaveshwara Nagar 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 State Bank Of Mysore Basaveshwara Nagar is presented in the table alongside.
The MICR code 583006111 is used in RBI cheque clearing process to identify the branch Basaveshwara Nagar and State Bank Of Mysore 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 Sbm Bank is typically in either of these two font’s: E-138 and CMC-7.