What is MICR? Many of you would have seen the magnetic inks bar codes printed on the bottom of your bank's cheque leaves. These bar codes are known as MICR code, an abbreviation for 'Magnetic Ink ...

Sometimes we read in news paper about how a bank identified fake demand drafts (DD), and alerted the police. In this case the bar codes in the fake DDs lacked magnetic ink and were not readable on ...

5.Transaction code: The last two digits at the bottom of the cheque help in decoding whether the cheque is current or a saving account cheque. MICR also tells whether the cheque is at par.

My name is magnetic ink character recognition (MICR) code. I get my name from a special type of ink which is made of magnetic material. I am a nine-digit number printed on a cheque or a demand draft.

New Delhi: Syndicate Bank account holders have a big update from Canara Bank. Old IFSC code, and MICR on cheque book will longer be valid from July 1, 2021. Customers need to get Cheque Book with ...