What is the full form of the banking transaction tracking system acronym MICR? MCQ with Answer and Explanation

What is the full form of the banking transaction tracking system acronym MICR?
A. Magnetic Ink Character Reader
B. Magnetic Information Code Recognition
C. Management Ink Character Registration
D. Magnetic Ink Character Recognition
Answer: Option D
Solution (By JKSSB Mock Tests)
The banking acronym MICR resolves fully to Magnetic Ink Character Recognition, using specialized magnetic scanner heads to read cheque codes rapidly.

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