Question
Which of the following is NOT correct about MICR?
Which of the following is NOT correct about MICR?
i. Magnetic ink character recognition code (MICR Code) used mainly by the banking industry to ease the processing and clearance of cheques
ii. MICR encoding typically includes bank code, bank account number, cheque number and a control indicator
iii. It’s a 11-digit code to identify which shows whether the cheque is real or fake
More Economy and Banking and Finance Static Concepts Questions
- How much penalty is to be paid by a person having more than one Permanent Account Number (PAN card)?
- Who is responsible for auctioning the treasury bills?
- ‘Project Tatkal’ is a recent initiative of the State Bank of India to speed up the process of _____________.
- Which of the following is not a type of ‘Time Deposit’?
- What is correct about RTGS and NEFT: i) RTGS is intended for big amount and NEFT is for smaller amount. RTGS can be done for amounts of minimum Rs.2 lakh...
- Which of the following union ministry has initiated the Project Mausam?
- In the full form of IBBI, ‘I’ stands for __________
- Bandhan Express will provides connectivity between which of the following two countries?
- _____________ is a cheque presented for payment after three months from the date of the cheque.
- What is the minimum tenure of deposits to be taken by NBFCs?
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
