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Divesh Asked :

15-08-2021 Banking

Q. In which year, MICR system for cheque was implemented in India?

A. 1987
B. 1996
C. 1990
D. 1993

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Dapzoi Verified
Commented on 2021-08-15 15:17:55 (IST)
Answer - A. 1987
Explanation - In 1980s the Reserve Bank of India introduced many new modes for safe and effective payments across the country. One such important mode introduced was the unique system of MICR based cheque clearing system.