A cheque is an order, "pay such-and-such an amount to the name of...". It is an order for a bank to pay it. I guess that if I extend a cheque in your name, the three parties are the one who extends...
MICR stands for Magnetic Ink Character Recognition. It is a system using which magnetic readers can easily identify the bank that issued the cheque and other details reg. the cheque. Yes, all banks...
At par cheque is a cheque on which no charge is deducted by the bank for crediting to your account, even if your account is in a branch that is in a different city from where the cheque is issued....