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.
|Magnetic Ink Character Recognition||Banking||MICR|
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