What is Cheque Truncation

With the advent of new technology and interent many things have become simple and easy and one is them is cheque truncation, Cheque truncation is the process by which the clearing of cheques speeds up. Under Cheque truncation method the physical instrument that is cheque is not needed, instead of that cheque an electronic image of that cheque is send out to the drawee (person who has to make payment) branch which helps in reducing the time for clearing of cheque.

0 comments… add one

Leave a Comment


Related pages


rtgs fullformdemonetized definitionadvantages and disadvantages of cost accountingcharacteristics of autocratic leadershipexamples of perfect competition market structuredisadvantages of financial institutionsexamples of veblen goodsnet worth calculation of companywhat is the full form of asbadrawer & draweejournal entry for capital accountdisadvantages of commodity moneyretail vs wholesale definitionnegatives of capitalismjournal entry for provision for expensesadvantages and disadvantages of loan capitaladvantages and disadvantages of stock market investingbill discounting meaning with exampleexample of accumulated depreciationcheque crossed generallybarter trade systemscope of micro and macro economicsadvantages and disadvantages of a loanassumptions of capm modelconvenience goods marketingstatutory liquidity ratio slrdiscounting bill of exchangefii fdiexplain the difference between fixed and variable costsdeferred revenue expendituredisadvantages of mergerswhat is crossing a chequemerger and acquisition advantagesunearned service revenue journal entryconsignors meaningplanned economies examplesadvantage of absorption costingcheque vs draftdifference between complementary and substitute goodscpi acronymdefine subventionesop full formindustrial goods examplesadvantages and disadvantages of financial statementswhat are the advantages of a traditional economyunclaimed dividendproblems with the barter systemwhat is the difference between accounts receivable and accounts payabledisadvantages of inflation accountingdefine floating exchange rateesop full formtypes of factoring servicesretail banking vs wholesale bankingprivatelizationsubstitute goods definition economicsbarter system in economicsautocratic leadership in businessat par chequesexamples of upsellinghow to fill withdrawal slipcalloption putoption.comdisadvantages of dictatorshipsimilarities between sales and marketingdisadvantages of e bankingprepayment journal entriesassest meaningdisadvantages of barterwhat is the meaning of escrow accountcharacteristics of capital budgetinghow to write bearer chequemeaning of forfeitingdifference between a creditor and a debtorbenefits of convertible bondsveblen goodsvertical statement analysis