FUNDAMENTALS OF COMPUTER

Detailed explanation-1: -“Magnetic Ink Character Recognition” (MICR) is a technology that uses a 9-digit code printed at the bottom of a cheque to quickly and accurately identify and process it. In addition to speeding up the processing of cheques, MICR has other features such as: MICR is located at the bottom of the cheque.

Detailed explanation-2: -MICR (magnetic ink character recognition) is a technology invented in the 1950s that’s used to verify the legitimacy or originality of checks and other paper documents. Special ink, which is sensitive to magnetic fields, is used to print certain characters on the original documents.

Detailed explanation-3: -Magnetic ink character recognition code, known in short as MICR code, is a character recognition technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents.

Detailed explanation-4: -Format of the MICR Code The MICR code consists of 9-digit and the first three-digit indicate the city code. Further, the next three-digit signifies the bank code. Lastly, the final three-digit represent the branch code. Check this example: The MICR code of one of the Chennai SBI branches may represent 600002025.