Question

discuss the features and applications of an MICR .

Answer 1

MICR code is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents.

Answer 2

Features and Application:

MICR is the short for of “Magnetic ink character recognition” and it is used to verify the sensitive paper documents and especially checks.

The “magnetic ink” which is more sensitive to the magnetic fields are used in printing of certain characters in the original documents.

By using MICR we can minimize the losses that are caused by the crime and it enhance the security.

MICR is mainly used by banking industry, it is used for the processing of clearance of cheques and documents.