What is the meaning of MICR cheque ? Cheques isuued by Post Offices are MICR or Non MICR cheque?
In addition to their unique fonts, MICR characters are printed with a magnetic ink or toner. Magnetic printing is used so that the characters can be reliably read into a system, even when they have been overprinted with other marks such as cancellation stamps. The characters are read with a device similar in nature to the head of an audio tape recorder, and the letterforms' bulbous shapes ensure that each letter produces a unique waveform for the read head.
In the 1960s, the MICR fonts became a symbol of modernity, leading to the creation of lookalike "computer" typefaces that imitated the appearance of the MICR fonts, but, unlike real MICR fonts, had a ...more