MICR Full Form Or Full Form Of MICR?
Full Form Of MICR Is Magnetic Ink Character Recognition
Some Details About MICR
Magnetic ink character recognition code, noted in brief as MICR code, may be a character recognition technology used chiefly by the banking system to contour the process and clearance of cheques and alternative documents. MICR cryptography, referred to as the MICR line, is at the lowest of cheques and alternative vouchers and generally includes the document-type indicator, bank code, checking account range, cheque range, cheque quantity (usually other when a cheque is given for payment), and a sway indicator. The format for the bank code and checking account range is country-specific.
The technology permits MICR readers to scan and browse the knowledge directly into a data-collection device. in contrast to barcode and similar technologies, MICR characters may be scan simply by humans. MICR encoded documents may be processed abundant quicker and additional accurately than typical OCR encoded documents.
MICR characters square measure written on documents in one in all the 2 MICR fonts, victimization magnetizable (commonly called magnetic) ink or toner, sometimes containing iron chemical compound. In scanning, the document is competent a MICR reader, that performs 2 functions, the magnetization of the ink, and also the detection of the characters. The characters square measure scan by a MICR reader head, a tool almost like the playback head of a tape machine. As every character passes over the top, it produces a singular wave shape which will be simply known by the system.
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