What is MICR code and its uses

CREATED BY: NANDY SARWAN

http://www.indianbankdetails.com/

INTRODUCTION:• 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.

• The MICR line is in the bottom of the documents which includes document type, account number, bank code, cheque number and control indicator.

• The MICR code reader easy read the line and send it to the data collection devices.

• Unlike Barcodes, MICR code can easily read by humans and it is printed at the bottom of the cheque.

MICR CODE

USES OF MICR

CONCLUSION:

• Each and every bank has MICR code for processing the cheque. Get all bank MICR code, IFSC code, and other bank details from indianbankdetails.com

• http://indianbankdetails.com/