Q. Which of the following is the character-recognition technology mostly used in banking industry?
Solution:
MICR code is the character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents. 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.
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