Archives for 

Banking GK

Cheque Truncation System (CTS) – Important Points and FAQs

 Cheque Truncation System (CTS) – Important Points and Frequently Asked Questions (FAQs) on Cheque Truncation System. What is Cheque Truncation? Cheque Truncation is settlement of clearing transactions on the basis of images and electronic data without the physical movement of the instruments. The Clearing Cheque is truncated at the Presenting bank itself. A cheque truncation […] Continue reading →

NEFT: National Electronic Funds Transfer – Important Points

 NEFT. What is NEFT? Short Notes on National Electronic Funds Transfer (NEFT). All about National Electronic Funds Transfer (NEFT). National Electronic Fund Transfer (NEFT) system is a nation-wide system that facilitates individuals, firms and corporates to electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other […] Continue reading →