The correct answer is Magnetic Ink Character Recognition.Magnetic Ink Character Recognition machines are capable of reading magnetic ink characters on Magnetic Ink Character Reader (MICR) documents.Magnetic Ink Character Recognition is a character-recognition technology adopted mainly by the banking industry to facilitate the processing of cheques.The ability to process checks and deduct payment amounts using a routing number is one of the advantages of the magnetic ink character recognition line.Optical Mark Recognition (OMR):Optical Mark Reader (OMR), sometimes called a mark-sense reader, detects the presence of Pencil mark or Predetermined grids.OMR devices work with a dedicated scanner device that throws a beam of light on the form of paper.It is used to check the objective test mark-sheet, lottery ticket, and official form, etc.Optical Character Recognition (OCR):An Optical Character Recognition device can read data that has been typed or handwritten on a source document.It is a combination of a scanner and special software which converts the printed or handwritten data to ASCII.It is used to convert the paper record into the electric filling and scanned challan into a spreadsheet.Download Solution PDFShare on Whatsapp