What is MICR code, where it is used?

What is MICR code, where it is used?

MICR stands for Magnetic Ink Character Recognition. This is a 9 digit code to identify the location of the bank branch. The MICR Code is a numeric code that uniquely identifies a bank branch participating in the ECS Credit scheme. The MICR Code allotted to a bank branch is printed on the MICR cheques issued by bank branches.

The MICR code consists of 9 Characters : (e.g 600002066)
The first 3 characters represent the city (600002066 )
The next 3 characters represent the bank (600002066)
Last 3 character denotes the branch identity (600002066 )