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MICR is Magnetic Ink Character Recognition.
You can see some NUMBERs which were printed on bottom line of each cheque with a uniform design in there each number will have some ink mark in it . These number will be read in the Machine called Magnetic Ink Character Recognition Machine which will authenticate the genuine of the Cheque.
There by this machine will identify the duplicate Cheque with the help of that ink printed in the cheque leaf.
Further each bank branch will have its unique identity with MICR code also
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MICR stands for magnetic ink character reader
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MICR stands for magnetic ink code recognition. Prof. Ranganath T V L
What does MICR stand for?
MICR stands for Magnetic Ink Character Recognition, is a character recognition technology used primarily by the banking industry to facilitate the processing of cheques.
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MICR (Magnetic Ink Character Recognition) is a printing technology used to print alpha-numeric details. MICR Code is printed on cheques and they let cheque processing,easy.for more details visit at:http://www.ifsccodeonline.com/MICR-CODES/
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