MICR uses special ink to print characters, enabling machines to read and process information quickly. This technology is widely used in the banking industry for check processing. In the full form of MICR, what does the letter ‘M’ stand for?

Correct option is B

In the full form of MICR (Magnetic Ink Character Recognition), the letter ‘M’ stands for Magnetic. MICR technology uses magnetic ink to print characters on cheques, allowing machines to read and process them quickly and accurately. This magnetic property enables reliable reading even if the characters are overprinted or slightly damaged, which is why MICR is widely used in the banking industry for cheque processing.
Important Key Points:
1. Full Form of MICR: MICR = Magnetic Ink Character Recognition
2. Role of ‘Magnetic’: The ink contains iron oxide, giving it magnetic properties that machines can detect.
3. Why Magnetic Ink is Used? Ensures high accuracy, fast processing, and resistance to forgery or tampering.
4. Banking Applications: Used on cheques for encoding bank code, branch code, and cheque number.
5. Advantages of MICR:
· Very low error rate
· High-speed processing
· Works even with stamps or signatures over characters
6. Common MICR Fonts: E-13B and CMC-7.
Knowledge Booster:
· Why option (a) Memory is incorrect? MICR is related to ink and recognition, not memory.
· Why option (c) Matrix is incorrect? Matrix has no role in the technology or its naming.
· Why option (d) Mercury is incorrect? Mercury is a chemical element and is unrelated to character recognition or banking systems.