BES171/Banking Transaction#1: Cheque Types, MICR, CTS Truncation, Negotiable Instrument Act
Mrunal Patel Mrunal Patel
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 Published On Feb 25, 2017

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- Till now we've finished the evolution of money, with focus on legal tender and blockchain technology. Now let's see the bank money and its paper-transaction in greater depth because of the upcoming SBI-PO and UPSC prelims exams.
- Negotiable instrument act 1881: various types of negotiable instruments (bill of exchange, cheque and promissory notes) and Amendments to this act in 2015 for dishonor and bouncing of cheques.
- Differences between bill of exchange, cheque, promissory notes.
- Differences between stale cheque vs anti-dated and post-dated.
- Types of Crossing on cheque: bearer, general, specific.
- Stale cheque, anti-dated cheque and post-dated cheque
- Local cheque vs At Par Cheque.
- Check clearance systems: MICR Cheque vs OCR
- IFSC code and cheque truncation system (CTS) of NPCi.

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