MICR Full Form – What is the Full Form of MICR?

By BYJU'S Exam Prep

Updated on: September 25th, 2023

MICR full form is Magnetic Ink Character Recognition Technology. MICR is a code printed on bank cheques. When one is filing any financial transaction forms, one must mention this code. These forms can include any investment form or even SIP forms.

MICR is used to not only identify but also process cheques. Magnetic Ink Character Recognition Technology (MICR Full Form) is the most common term used in banking. Let us discuss MICR full form in banking in English and Hindi.

What is the MICR Full Form?

The full form of MICR is Magnetic Ink Character Recognition. MICR is a code that is used in the banking sector. It has a unique print technology that is used to enable a machine to read, process and record information. MICR cannot be faked or copied due to the use of magnetic fonts and the unique font used in it.

The MICR code is usually three sets of numbers. These numbers represent the routing number, the bank account number, and also the cheque number. The printing technology used to print this code is called magnetic ink character recognition. This technology allows these numbers to be read, processed, and recorded.

MICR Full Form in Banking

The MICR full form is Magnetic Ink Character Recognition. MICR code is a pattern recognition system that is used in the banking sector to identify the document‘s originality and to enable the processing and approval of cheques and other papers.

MICR Full Form: Working

A method known as magnetic ink character recognition (MICR full form) is used to confirm the validity or authorship of paper documents, particularly checks. On the original documents, specific characters are printed using special ink that reacts to magnetic fields. The MICR system was developed in the late 1950s and is now utilized globally.

  • In the document, the MICR code is shown in two different ways.
  • CMC-7 is one, and the other is the E-13B. The ink used in printing is called magnet ink.
  • The characters that have been obscured by other marks, such as signatures and stamps, can be appropriately read thanks to the transfer of the MICR code from the MICR reader.
  • When filling out various financial transaction forms, such as investment or SIP forms, or when sending money, one should take note of the MICR code.

Components of MICR Code

The MICR code is a nine-digit code consisting of three groups of numbers. You can locate the MICR code printed on a cheque leaf or the passbook’s first page next to the cheque number.

  • City Code: The first three digits of the MICR code represent the City code. This city code is the same as the pin code.
  • Bank Code: The next three digits are called the Bank code.
  • Branch code: The last three digits are called the branch code, representing the bank’s branch.

For example, if 13456789 is the MICR code printed at the bottom of a cheque, then 123 represents the city code, 456 represents the bank code, and 789 represents the branch code.

MICR Code on Cheque

The MICR code is printed on the bottom of a cheque leaf, next to the cheque number as well as on the first page of a bank savings account passbook. We have shared an image for the MICR code below to identity it.


MICR Full Form: History

MICR was developed in the 1950s by the American Bankers Association and is now used globally across various countries, with one being India. After its invention in 1958, the machine was introduced in India by the Reserve Bank of India in the 1980s. To check the MICR code of different banks and branches, one can use the website of the RBI.

MICR Full Form in Hindi: MICR क्या होता है?

The MICR full form in Hindi is चुंबकीय स्याही चरित्र पहचान or “Magnetic Ink Character Recognition”. MICR एक ऐसी तकनीक है जिसका उपयोग विशेष स्याही और पात्रों की मदद से दस्तावेज़ की मौलिकता की मान्यता में किया जाता है| MICR पुरानी विधि है जो धन की सुरक्षा के लिए एक Negotiable Instruments होता है| Bnk cheque की processing के लिए यह विधि सुविधाजनक है| MICR code से Cheque के संबंध मे विस्तृत जानकारी जुड़ी रहती है जो Cheque के 9 Number के अनुक्रम से दर्शायी जाती है|

Features of MICR Code

Manual clearing of cheques can take a lot of time and also might have human errors. Along with this, without MICR codes, it is quite easy to fake cheques. This is why MICR codes are essential. Let us learn the features of the MICR Code.

  • Due to the state-of-art technology of a MICR machine that can read it, MICR code can never be faked.
  • The MICR code is not the same as the IFSC code, as the former is used to process cheques while the latter is used while transferring money from one account to another.
  • The ink bars printed on a cheque at the bottom also represent the MICR magnetic code.
  • The MICR code is unique to a particular bank.
  • Even if any stamps on the code reduce its visibility, MICR machines can still read the codes because of their fine nature.

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