what is MICR where is mostly used what is the major advantage and disadvantage of MICR
Answers
it reduces the time and effort in clearing the cheque.
An MICR reader or scanner magnetize the characters before it decodes the complete text. The characters are then run through a MICR read head - a device that converts the characters to waveform, which are then identified by the system.
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The MICR are used to read the characters inscribed on documents with ink and containing magnetized particles. MICR is used in banks to process large volumes of cheques being handled every day. Banks which employ MICR technology use special type of cheques.
Following are the benefits or advantages of MICR:
➨In spite of rough handling, one can read the MICR information with high degree of accuracy.
➨The processing of MICR information is fast.
➨It offers greater security compare to OCR technology as printed characters can not be altered.
➨There is no manual input and hence errors are reduced.
➨The characters can be read even if somebody write on them. This is due to the fact that special ink containing iron particles is used to print the characters.
➨The document is not easy to forge.
Disadvantages of MICR
Following are the drawbacks or disadvantages of MICR:
➨It can recognize only 10 digits & 4 special characters.
➨Alphanumeric characters are not used in MICR. Only certain characters can be read.
➨It is more expensive method of data entry.