- 08/02/2019 at 4:25 am #1574936EduGorillaKeymasterSelect Question Language :
With respect to MICR code that is used to facilitate cheque processing, which of the following statement is incorrect?
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- MICR characters are printed in special typefaces with a magnetic ink/toner, usually containing iron oxide.
- It consists of 9 digits
- The first 3 digits of MICR code represent the state code where the bank is situated.
- The last 3 digits of MICR code represent the bank branch code
- The middle 3 digits of MICR code represent the bank code
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