The MICR code is used to identify the bank and branch participating in the Electronic Clearing System (ECS). The 9 digits are structured as follows: the first three digits represent the city code, the next three digits represent the bank code, and the last three digits represent the branch code. This code helps in the quick and accurate processing of cheques.
Magnetic Ink Character Recognition (MICR) code is a
Asked in westbengal/WBCS Main 2019 Paper 5 2019 · Topic: Money & Banking (Payment Systems in India: Digital Payments, UPI, and Central Bank Digital Currency (CBDC))
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