Bank Draft Introduction : Banks remit funds from one place to another through the network of their branches. The main instrument for remittance of funds are bank drafts, mail transfer, telegraphic transfer and traveller’s cheques. Here, we will focus are attention on features and operational aspects of bank draft. Definition […]
Read moreMonth: January 2014
Clearing
Clearing Clearing is the process of collection of proceeds of instruments of different banks by a collecting bank through some systematic procedures with the involvement of Central Bank. Types of instruments: Cheques (CD, SB, Loan) Demand Draft Payment Order Others Related Terms: Crossing Clearing Stamp Endorsement Clearing […]
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