What is MICR? Where is it mostly used? What are the major advantages a

1.	What is MICR? Where is it mostly used? What are the major advantages and disadvantages of MICR as general purpose input medium?
Answer» MICR stands for Magnetic Ink Character Recognition. It is a characters recognition technology that can read human unreadable characters that are printed using a special magnetic ink. It is mostly used in banks to facilitate the processing of cheques. Advantages Advantages of MICR are as follows: 1. It decreases the margin of errors. 2. Provides high security. Disadvantages Disadvantages of MICR are as follows: 1. Time consuming standards. 2. The number of characters that can be recorded with present techniques is very limited.

What is MICR? Where is it mostly used? What are the major advantages and disadvantages of MICR as general purpose input medium?

Answer»

MICR stands for Magnetic Ink Character Recognition.

It is a characters recognition technology that can read human unreadable characters that are printed using a special magnetic ink. It is mostly used in banks to facilitate the processing of cheques.

Advantages

Advantages of MICR are as follows:

1. It decreases the margin of errors.

2. Provides high security.

Disadvantages

Disadvantages of MICR are as follows:

1. Time consuming standards.

2. The number of characters that can be recorded with present techniques is very limited.

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