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:- 1. Definition of ATM 2. Types of ATMs 3. Precautions. Definition of ATM: "ATM is an automated teller machine or automatic teller machine (ATM) which is an electronic computerized telecommunications device that allows a financial institution's customers to directly use a secure method of communication to access their bank accounts, order or [...]