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

RBI/2011-12/516
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,

Chief General Manager
(Vijay Chugh)

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26Q- Transport Detail - 94C - Rate 0 % -
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Some important flag and codes are given as under for knowledge of Deductor :-
Short deduction details            

Category of deductee:
'G' - General
'S' - Senior citizen
'W' - Woman
'C' - Company &
'N' - Non-Company.

Tax rate flag:
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'P' : Indicates tax deducted at prescribed rates as per the Income Tax Act.
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Reason code:
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'B' - No deduction under section 197 or 197A
'Y' - Threshold transaction
'T' - Transporter transaction
'H' - TDS deducted at higher rate (as per the TDS return)

Amount rounded off
# Applicable only if Tax rate flag is 'L'

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Public Companies: – 116603

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