In processing cheques which of the following I/O techniques have banks traditionally followed?
In processing cheques which of the following I/O techniques have banks traditionally followed? Correct Answer MICR (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. The MICR encoding, called the MICR line, is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount, and a control indicator.Source : wikipedia.org