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MICR stands for.........
MICR stands for 'Magnetic ink character recognition' MICR is a character recognition technology used primarily by the banking industry to facilitate the processing and clearance of cheques and other documents. The technology allows MICR readers to scan and read the information directly into a data collection device. The MICR encoding, called the MICR line, is located at the bottom of a cheque or other voucher and typically includes the document type indicator, bank code, bank account number, cheque number and the amount, plus some control indicator.


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