Q13. What is MICR? Where is it mostly used? What is the major (dis)advantages of MICR as a general purpose input medium?
Ans. MICR stands for Magnetic Ink Card Reader. Those device can read human readable characters that are printed using a special magnetic ink.
The MICRs are mostly used in banks.
The major advantages of MICR is accuracy and its speed.
The major disadvantages of MICR is that the number of characters that can be recorded with present techniques is very limited. Also, the characters cannot be read repeatedly without losing their magnetism.