A uniform set of transaction codes has been developed to be used by all banks. The transaction code, to be pre-printed, comprises a two-digit number running from 01-99. Codes 01- 49 are reserved for debit instruments and codes 50 – 99 for credit instruments. The transaction codes numbers and their definitions are enumerated below:

Trans
action Code No.

Nature of transaction/instruments represented by the code

Definitions

01-09

Codes reserved for clearing house control documents representing debit instruments  

10

Savings Bank Account Cheque  

11

Current Account cheque  

12

Banker’s cheque A cheque issued by a bank on itself used for making own payments. Also issued in lieu of demand drafts on the same city.

13

Cash credit account cheque Cheques issued to a running loan account

14

Dividend warrant  

15

Traveller’s cheque  

16

Demand Draft  

17

Cheques which will be issued in lieu of existing payment order A prepaid instrument issued by a bank on to itself, similar to banker’s cheque issued in lieu of a draft on the same city.

18

Gift cheque  

19

Interest warrant  

20

State government transactions @  

21

Central Government transactions @  

22

Railway transactions @  

23

Posts & Telegraphs transactions @  

24

Defence transactions @  

25

Telecommunication transactions @  

26

Reserved  

27

Departmentalised ministries (UMALO) transactions  

28

Refund warrant  

29

At Par Current Account Cheques Multi-city cheques pertaining to Current account

30

At par Cash Credit Account Cheques

Multi-city Cash Credit Account instruments payable at all branches of the bank

31

Savings Bank at par cheque Savings Bank Account cheques payable at all branches of the bank i.e multi-city cheques

40

Credit transactions to NRE Accounts in Indian Rupees Credit transactions to Non-Resident External Accounts maintained by Non-Resident Indians

32-48

Reserved  

49

Income Tax Refund Orders Income Tax Refund Orders payable at banks other than Reserve Bank of India.

@ To be printed on cheques/payment instruments issued by Govt. Departments for drawing on their accounts maintained with banks other than Reserve Bank of India

Note : For the present, banks have decided not to bring the travellers’cheques under the purview of mechanised cheque processing. Travellers cheques may not be printed in MICR format and with MICR codeline. Accordingly, when the mechanised cheque processing system is introduced for cheque clearing on a regular basis, the travellers’ cheques will not be eligible for presentation through the clearing system.