General Studies · Cheque Processing
In the evolution of banking technology, the MICR (Magnetic Ink Character Recognition) technology was introduced primarily to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Securely transfer funds between bank branches
- 2Digitally store physical images of all cheques
- 3Provide immediate cash withdrawal from any branch
- 4Automate and speed up the clearing and processing of high volumes of cheques and financial instruments✓
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Automate and speed up the clearing and processing of high volumes of cheques and financial instruments
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