'MICR' technology used for clearance of cheques by banks refers to _____________.
'MICR' technology used for clearance of cheques by banks refers to _____________.
The correct option is A Magnetic Ink Character Recognition
'MICR' technology used for clearance of cheques by banks
refers to Magnetic Ink Character Recognition.
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. The technology allows MICR readers to scan and read the
information directly into a data-collection device. Unlike barcodes and similar
technologies, MICR characters can be read easily by humans.
MICR (magnetic ink character recognition) is a technology
used to verify the legitimacy or originality of paper documents, especially
checks. Special ink, which is sensitive to magnetic fields, is used in the
printing of certain characters on the original documents.
'MICR' technology used for clearance of cheques by banks refers to Magnetic Ink Character Recognition.
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. The technology allows MICR readers to scan and read the information directly into a data-collection device. Unlike barcodes and similar technologies, MICR characters can be read easily by humans.
MICR (magnetic ink character recognition) is a technology used to verify the legitimacy or originality of paper documents, especially checks. Special ink, which is sensitive to magnetic fields, is used in the printing of certain characters on the original documents.
