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What is the micr code in banking?

Anonymous

∙ 15y ago

Updated: 12/9/2022

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

Wiki User

∙ 15y ago

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