<p>What is MICR code and its uses
CREATED BY: NANDY SARWAN
â€¢ MICR stands for Magnetic Ink Character Recognition. It is the
character recognition technology used by the banks and banking
sectors for the purpose of processing and clearance of cheques.
â€¢ The MICR line is in the bottom of the documents which includes
document type, account number, bank code, cheque number and
â€¢ The MICR code reader easy read the line and send it to the data
â€¢ Unlike Barcodes, MICR code can easily read by humans and it is
printed at the bottom of the cheque.
USES OF MICR
â€¢ Each and every bank has MICR code for processing the cheque. Get
all bank MICR code, IFSC code, and other bank details from