As per RBI Annual Report 2017, the volume of paper clearing (cheques with CTS, MICR, Non-MICR) stands at a staggering 1,206 million instruments, transacting over ₹80,958 billion in 2016-2017.

For instance, in the MICR code 400240019, 400 denotes Mumbai, 240 denotes HDFC Bank Ltd and 019 denotes the branch of the bank located in Apollo Bunder, Mumbai. What’s my significance ...

Additionally, a string of 20 random characters will be added on the MICR (Magnetic ink character recognition) band of the cheque leaf using non-MICR ink.

Additionally, a string of 20 random characters will be added on the MICR (Magnetic ink character recognition) band of the cheque leaf using non-MICR ink. The MICR band, is a character-recognition ...

When the cheque is presented, the QR code will be read from the cheque leaf along with MICR details and passed to the ChequeChain system for validation against the unique HASH.

When the cheque is presented, the QR code will be read from the cheque leaf along with MICR details and passed to the cheque chain system for validation against the unique HASH.” ...

A MICR-cheque has seven characteristics including microprint, erasable ink, chemical sensitivity and MICR code line. But MICR-encoded cheque alone could not stop frauds.

We give you a lowdown on the changes. 1. The IFSC and MICR codes, predictably are a must on every cheque leaflet. 2.

This story is from October 2, 2001 Banks struggle with new cheque regime Mohit Dubey / TNN / Oct 2, 2001, 03:21 IST AA Follow us ...

“The old cheque book of eOBC and eUNI are going to be discontinued from 1-10-2021. Please replace your old cheque book of e-OBC and e-UNI with the PNB cheque book with updated PNB IFSC and MICR ...