101. MICR Full-Form | What is Magnetic Ink Character Recognition (MICR)

By | December 23, 2019
MICR Full-Form | What is Magnetic Ink Character Recognition (MICR)

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MICR

The abbreviation or full form of MICR is Magnetic Ink Character Recognition

MICR  Full-Form | What is Magnetic Ink Character Recognition (MICR)

MICR Full Form, Abbreviation & Meaning

Magnetic Ink Character Recognition is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other related documents. At the bottom of the cheques and vouchers, we can find the MICR encoding which is commonly called as MICR line that includes the document-type indicator, bank code, bank account number, cheque number, cheque amount and a control indicator.

This technology used in MICR encoding facilitates the readers to scan and read the information directly into a data-collection device. Barcodes cannot be interpreted whereas MICR characters can be easily read by humans. The MICR E-13B is adopted as the international ISO standard which is recognized as ISO 1004:1995.

Fonts –

MICR most commonly uses two different types of font which are as follows –

  • E-13BTh is font has a 14 character set and is most commonly used as a standard font in Australia, Canada, United Kingdom, United States and other countries.
  • CMC-7This font has a 15 character set including 10 numeric characters and control characters. This font is most commonly used as a standard font in European countries such as France and Italy. It is also followed by other countries such as Brazil and Mexico.

MICR Reader –

MICR characters are printed on a document by using one of the two mentioned fonts. The ink used in the printing is a magnetic ink or toner which usually contains iron oxide. The MICR text is written by using either of the two fonts. This text is passed before a MICR reader. The ink in the plane of the paper is first magnetized. Then the characters are passed over a MICR read-head. As each character passes over the head it produces a unique waveform that can be easily identified by the system.

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