Question

____________ technology is widely used in the banking industry for processing cheques.

• A. OMR
• B. OCR
• C. MICR
• D. All of the above

Answer 1

Answer:

C. MICR

• MICR stands for Magnetic Ink Character Recognition, and it's a technology used to process and verify the legitimacy of checks and other financial documents. MICR codes are unique 9-digit codes that are typically printed at the bottom of checks and bank passbooks