Micr full form in computer

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• Magnetic Ink Character Recognition It is a character-recognition technology used in banking industry on checques for easier clearance processing. On the bottom of the cheque MICR line is printed which have information like bank code, bank account number, cheque number, cheque amount etc. The MICR E-13B font is used in most of countries as standard MICR font. Magnetic ink is used to print these details on cheques. MICR readers are then used to read these details back.

What is the Full Form of MICR? The full form of MICR is Magnetic Ink Character Recognition. It is a pattern recognition technology mostly used in the banking sector to identify the authenticity, origin and individuality of a document such as a cheque, etc. with the help of special ink and characters. It is very human-friendly, easy to understand and is a convenient pattern recognition system. It is a 9 digit code which is a unique identifier to recognize the bank and its branch code involved in the financial transaction. This nine-digit code is written on the cheques right next to the cheque number. Discovery of MICR Before the invention of MICR, the process of cheques and other documents clearance was very time-consuming as everything was done manually. Due to this, the number of pending cheques and documents was piling up day by day. To avoid such situations, a technology was required that can help in processing documents and cheques while at the same time, also maintaining the authenticity of the cheques so that they are not forged. That is why MICR technology was discovered. It was discovered with a vision to reduce manual efforts and eliminate the chances of error in the banking field. Origin of MICR The first MICR automated system to process cheques was introduced in the mid-1950s by General Electric Computer Laboratory together with the Standard Research Institute. It was a system to process cheques with the E- 13B font system. Later, the CMC-7 font was created by t...

ENT full form SEBI full form LIC full form UPA full form IC full form EEE full form IPCC full form TDS full form CMOS full form BSC full form WBC full form CSE full form GDP full form NASA full form IDBI full form PUC full form CPR full form AFCAT full form MAH full form DP full form You must know that the full form of MICR is Magnetic Ink Character Recognition. As documents can be forged easily, to avoid such a situation, the technology of MICR was invented. It is used to judge the authenticity of a document with the use of special ink and characters. Magnetic Ink Character Recognition is referred to as MICR in short. It is a pattern recognition to identify the originality of the document and enable the processing and cheque approval and other approvals of papers in banking, MICR code is used. It is a technology that uses specific characters and ink. Characteristics of MICR Code A MICR code is a nine-digit code that recognizes the bank and branch involved in an ECS (Electronic Clearing System) uniquely. At the base of a cheque leaf next to the cheque number, the MICR code is written. On the very first page of the bank savings account passbook, the MICR code can be found printed. MICR Code Consists Of Three Parts, they are: • City Code- The very first three digits of the MICR code represents the Pincode of the city which is the postal code for an address in India. • Bank Code- The next three digits of the MICR code represents the bank. • Branch Code- The last three digits ...