Question

Write a note on 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. The MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount, and a control indicator.

Answer 2

Note on MICR:

1. MICR stands for Magnetic Ink Character Recognition is a method used to check if the published material is original or not. It is printed on the original copies of any published material on the front as a magnetic code.
2. If somebody tried to make a Xerox copy for the same, these magnetic codes won’t work in that copies since that copies are not the original copies. Any MICR reader machine can scan these codes and thus can check if the material is original or not.