Abbrevations
This query is : Resolved
Prateek Biyani
(Querist)
28 September 2007
What stands for BSR Code(for Banks)
What stands for MICR code (also for banks)
What stands for MICR code (also for banks)
28 September 2007
BSR Code
Bank Branch code or BSR code is a 7 digit code allotted to banks by RBI
MICR
The bottom line on all checks printed and used in North America (and many other countries worldwide) is printed using a special font called MICR (short for Magnetic Ink Character Recognition). MICR is usually pronounced My-ker. The bottom line on a check must always be printed in the MICR typeface using a special magnetic ink.
The MICR line on a check allows the check information to be automatically read by inexpensive machines. This is the only way that huge numbers of checks can be processed each day.
Bank Branch code or BSR code is a 7 digit code allotted to banks by RBI
MICR
The bottom line on all checks printed and used in North America (and many other countries worldwide) is printed using a special font called MICR (short for Magnetic Ink Character Recognition). MICR is usually pronounced My-ker. The bottom line on a check must always be printed in the MICR typeface using a special magnetic ink.
The MICR line on a check allows the check information to be automatically read by inexpensive machines. This is the only way that huge numbers of checks can be processed each day.
28 September 2007
bsr is a 7 digit branch code allotted by rbi to every branch bank and is a must to be quoted in bank chalans.RBI WEBSITE OFFERS MANY DETAILS BUT NO ABBREVIATION THERE.
MICR MAGNETIC INK CODED RECORDER.
R.V.RAO
MICR MAGNETIC INK CODED RECORDER.
R.V.RAO
29 September 2007
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