What is the full form MICR?

MICR stands for "Magnetic Ink Character Recognition".

This technique is used to testify the authenticity of any document whether it is authentic or no. The work revolves around the concept that the ink so used is actually magnetic field sensitive. So, this ink is used when the original documents are getting prepared. During this process, the ink is used to encode certain magnetic characters. This makes it unique because the MICR is able to read it hence the authenticity gets checked.

The reason this technique is used in order to protect it from unlawful acts and also piracy. This ink increases the security of the documents, for example, a counterfeit check produced using a color photocopying machine, the magnetic-ink line will either not respond to magnetic fields or will produce an incorrect code when scanned using a device designed to recover the information in the magnetic characters. Aiding to this, the MICR scanner is also able to detect if the owner of the document has had previous history of fraud and other related crime. So, then also the person in charge is notified.

This technique is widely popular nowadays but more importantly, it is used in the industries where the document-related practice is carried forward on a very regular basis.