What is micr?where it is used
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MICR (Magnetic Ink Character Recognition) is a thing which is used to check the originality of paper documents and importantly checks.
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Micr is Magnetic ink character Recognition and it is used in banking sector .
Explanation:
- MICR is also known as "Magnetic ink character recognition. The main objective of magnetic ink character recognition to check the authenticity or uniqueness of the paper records.
- In the Magnetic ink character recognition the magnetic-sensitive ink are used to display those characters on the relevant documents.
- Magnetic ink character recognition is used in the banking sector in the cheque.
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