Which of the following is the correct full form of MICR, widely used in the banking industry for processing cheques? MCQ with Answer and Explanation

Which of the following is the correct full form of MICR, widely used in the banking industry for processing cheques?
A. Maximum Ink Character Rate
B. Magnetic Internal Code Reader
C. Magnetic Ink Character Recognition
D. Magnetic Information Character Reader
Answer: Option C
Solution (By JKSSB Mock Tests)
MICR stands for Magnetic Ink Character Recognition. It is a character recognition technology used mainly by the banking industry to ease the processing and clearance of cheques and other documents.

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Correct Answer: Option B


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