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    Meaning of "INWARD MICR ZONE - 1" in Bank Statement/SMS


    Did you got message or e-mail from your Bank? Or did you seen in your Online Bank Statement that says:
    "Dear Customer, Your XXX Bank account XXXX#### has been debited with INR #### on Date: #### Info: INWARD MICR ZONE - 1, cheque ####"


    Solution1:
    • MICR Full Form : Magnetic Ink Character Recognition (each bank have its own code & INW - INward)
    • CLG Means - Cheque is in clearing!
    Solution 2:
    Some time bank has given contract to some private agencies to Drawn Cheque, INWARD MICR ZONE - 1 is name of the agency, which has drawn your Cheque in favor of your bank.

    Meaning of Inward Cheque Return:

    Who sent a cheque to you, this money will be deposited into your account. If someone is returned, that banks do not accept issued to you, either due to many reasons like mismatch, account no missing, expired checks and other checks deposited
    Information Guru wishes you Happy Banking on this New Year - 2015!! Enjoy!!

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