Q. MICR technology is mainly used by banking industry. MICR denotes _______.
✅ Correct Answer: (A)
Magnetic Ink Character Recognition
Explanation: MICR stands for Magnetic Ink Character Recognition. MICR Code is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents. Unlike barcodes and similar technologies, MICR characters can be read easily by humans.
Explanation by: Sikhar Chaudhary
MICR stands for Magnetic Ink Character Recognition. MICR Code is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents. Unlike barcodes and similar technologies, MICR characters can be read easily by humans.