The full form of MICR is ___________.

Correct option is B

MICR stands for Magnetic Ink Character Recognition and is a technology used primarily in the banking industry for processing checks.
Important Key Points:
1. MICR: It is used to read characters printed in magnetic ink, which allows for rapid and reliable reading by machines, especially in banking.
2. Usage in Banking: MICR is mainly used for reading the information on checks for verification and faster processing.
Knowledge Booster:
· Magnetic Ink: The special ink contains magnetic particles, which makes it machine-readable and resistant to forgery.
· MICR Code: Each bank branch has a unique MICR code that helps identify it during the check processing.