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     EduGorilla 
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    With respect to MICR code that is used to facilitate cheque processing, which of the following statement is incorrect?

    Options :-

    1. MICR characters are printed in special typefaces with a magnetic ink/toner, usually containing iron oxide.
    2. It consists of 9 digits
    3. The first 3 digits of MICR code represent the state code where the bank is situated.
    4. The last 3 digits of MICR code represent the bank branch code
    5. The middle 3 digits of MICR code represent the bank code
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