This article provides a short note on cheque truncation. Cheque truncation is the process of stopping the flow of the physical cheques issued by a drawer to the drawee branch. The physical instrument will be truncated at same point en-route to the drawee branch and an electronic image of the cheque would be sent to the drawee branch along with [...]
After reading this article you will learn about the clearing process of cheques. The clearing process begins with the deposit of a cheque in a bank. The cheque (along with other cheques) is delivered to the bank/branch where it is drawn. The cheque is passed for payment if the funds are available and the banker is satisfied about the genuineness [...]
After reading this article you will learn about the direct and indirect services provided at the branch of a bank. Direct Services Provided at Branch Level: A normal branch provides following services directly: 1) Acceptance of cash, 2) Payment of cash, 3) Issuing Drafts/pay orders, 4) Fixed deposits 5) Operation of Saving Account, Current Account, Over Draft Account, 6) Issue [...]