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What is the use of MICR Code?

What is the use of MICR Code?

Sunday, May 21, 2017, 12:23 PM

MICR Code is used in the processing of cheques by machines. This code enables faster processing of cheques. One is required to mention the MICR code while filing up various financial transaction forms such as s investment forms or SIP form or forms for transfer of funds etc.
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