Question

span >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

A Only i
B Only i & ii
C Only ii
D Only iii
E All the above are correct
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