MICR (Magnetic Ink Character Recognition) is a technology used primarily by banks for processing cheques and other documents. It is used to identify characters by scanning and reading the information into a data-collection device.
MICR code on a cheque is found at the bottom. When the cheque is inserted in the MICR reader, it can read the MICR code even if there are other symbols marked on it. Hence, the machine can easily find out the bank branch and location associated with the cheque.
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