How to write a Safe Cheque?
One of the most common ways to pay money is through a cheque. Writing a cheque is really easy, but you must be careful. A mistake while writing a cheque, can prove very costly and cost you a lot of money. 1. Use ‘A/C Payee’ instead of ‘OR BEARER’ Cutting the words ‘Or Bearer’ and […]
Cheque Truncation System
Cheque Truncation System or CTS is the cheque clearance system introduced by RBI to fasten up the clearing of cheques. In this system, instead of producing the physical cheques to the payee bank, just the electronic image of the cheque along with the MICR code and other cheque credentials are transmitted to the drawee bank […]