Thus, MICR makes it difficult to alter checks. Check altering generally entails changing the payee's name, the amount of the check, or both. Section 3-407 of the Uniform Commercial Code (UCC), a ...

What is MICR? Many of you would have seen the magnetic inks bar codes printed on the bottom of your bank's cheque leaves. These bar codes are known as MICR code, an abbreviation for 'Magnetic Ink ...

Sometimes we read in news paper about how a bank identified fake demand drafts (DD), and alerted the police. In this case the bar codes in the fake DDs lacked magnetic ink and were not readable on ...

1. The IFSC and MICR codes, predictably are a must on every cheque leaflet. 2. All cheques shall carry a standardised watermark, with the words "CTS-INDIA" which can be seen when held against any ...

Any cheque with old MICR codes presented after the aforementioned date will not be honoured. New cheque books (with new MICR code) have been available since 1st November 2021.” A complete list ...

Cheque books of Syndicate Bank will become ... While the merger came into effect in April 2020, the IFSC and MICR codes are updating from the starting of Financial Year 2022, i.e. from April ...

This is regarding IFSC-MICR Code. Earlier on April 1, 2020, the government had merged three public sector banks—Punjab National Bank, United Bank of India and Oriental Bank of Commerce. Source: PTI If ...