Cheques represent a significant segment of payment instruments in India. In order to ensure speedy clearance of cheques "Cheque Truncation System" was introduced in the year 2008. It is defined in the section 6 of the Negotiable Instruments Act 1881. And as per recommendations of Dr. R.B. Barman working group (reported in 2003), RBI came up with Cheque Truncation system in Delhi-NCR on pilot basis. Cheque Truncation is one of the major innovations in cheque clearing after the Magnetic Ink Character Recognition (MICR) cheques which were introduced in the 1986. Cheque truncation is a system between clearing and settlement of cheques based on electronic images. This form of clearing does not involve any physical exchange of cheques. CTS take care of the needs of future electronic transactions. Need for CTS: Though MICR technology helped improve efficiency in cheque handling, clearing is not very speedy as cheques have to be physically transported from the collecting branch of a bank to the drawee bank branch. Cheque Truncation System Working: Under CTS, instead of physical movement of the cheque, an electronic image of the cheque is transmitted to the drawee branch / bank. Along with the electronic image, certain key relevant information is also transmitted, such as date of presentation, presenting bank details, data on the MICR band. And the presenting bank retains the physical cheque for 10 years. Salient features of CTS: 1.Cheque printer details: This is printed on the extreme left hand side of the cheque. The printer details along with the words 'CTS-2010' is mentioned along the area where you tear off the leaf from the cheque book. 2. Rupee symbol: The new symbol of the Indian rupee is printed beside the area where the amount in figures needs to be written. 3. Details of the bank and its logo: The bank details and its logo are printed on the face of the cheque. However, it is printed in invisible ink. 4. Signature space indicator: The words 'please sign above' are mentioned indicating the space where you will need to sign the cheque. 5. VOID pantograph: This is a wavelike design, which is visible to the naked eye and seen below the area where the account number is printed. Specifications of the electronic image: 1. Front Grey Scale 2. Front Black & White 3. Reverse Black & White New approach to CTS implementation: The new approach to enhance the CTS implementation pan India is the grid-based approach. Under this approach the entire cheque volume in the country which was earlier cleared through 66 MICR Cheque Processing locations is united into the three grids in New Delhi, Chennai and Mumbai. Each grid provides processing and clearing services to all the banks under its respective jurisdiction. Benefits of Cheque Truncation System: 1. The CTS is more advanced and more secure. 2. It provides faster clearance of cheques as local cheques are cleared on the same day as the cheque is presented to the clearing house, while intercity cheques is cleared the next day. 3. It reduces reconciliation and clearing frauds. 4. It provides no geographical restrictions. 5. It reduces operational risk and risks associated with paper clearing. 6. There are no extra charges levied for collection of cheques drawn on a bank located within the grid. International experience of CTS: Denmark and Belgium are pioneers in CTS. They adopted complete cheque truncation system more than two decades ago. Sweden is the country that has achieved complete truncation where all the cheques can be presented and encashed at any branch irrespective of the bank on which they are drawn.
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Cheques represent a significant segment of payment instruments in India. In order to ensure speedy clearance of cheques "Cheque Truncation System" was introduced in the year 2008. It is defined in the section 6 of the Negotiable Instruments Act 1881. And as per recommendations of Dr. R.B. Barman working group (reported in 2003), RBI came up with Cheque Truncation system in Delhi-NCR on pilot basis. Cheque Truncation is one of the major innovations in cheque clearing after the Magnetic Ink Character Recognition (MICR) cheques which were introduced in the 1986. Cheque truncation is a system between clearing and settlement of cheques based on electronic images. This form of clearing does not involve any physical exchange of cheques. CTS take care of the needs of future electronic transactions. Need for CTS: Though MICR technology helped improve efficiency in cheque handling, clearing is not very speedy as cheques have to be physically transported from the collecting branch of a bank to the drawee bank branch. Cheque Truncation System Working: Under CTS, instead of physical movement of the cheque, an electronic image of the cheque is transmitted to the drawee branch / bank. Along with the electronic image, certain key relevant information is also transmitted, such as date of presentation, presenting bank details, data on the MICR band. And the presenting bank retains the physical cheque for 10 years. Salient features of CTS: 1.Cheque printer details: This is printed on the extreme left hand side of the cheque. The printer details along with the words 'CTS-2010' is mentioned along the area where you tear off the leaf from the cheque book. 2. Rupee symbol: The new symbol of the Indian rupee is printed beside the area where the amount in figures needs to be written. 3. Details of the bank and its logo: The bank details and its logo are printed on the face of the cheque. However, it is printed in invisible ink. 4. Signature space indicator: The words 'please sign above' are mentioned indicating the space where you will need to sign the cheque. 5. VOID pantograph: This is a wavelike design, which is visible to the naked eye and seen below the area where the account number is printed. Specifications of the electronic image: 1. Front Grey Scale 2. Front Black & White 3. Reverse Black & White New approach to CTS implementation: The new approach to enhance the CTS implementation pan India is the grid-based approach. Under this approach the entire cheque volume in the country which was earlier cleared through 66 MICR Cheque Processing locations is united into the three grids in New Delhi, Chennai and Mumbai. Each grid provides processing and clearing services to all the banks under its respective jurisdiction. Benefits of Cheque Truncation System: 1. The CTS is more advanced and more secure. 2. It provides faster clearance of cheques as local cheques are cleared on the same day as the cheque is presented to the clearing house, while intercity cheques is cleared the next day. 3. It reduces reconciliation and clearing frauds. 4. It provides no geographical restrictions. 5. It reduces operational risk and risks associated with paper clearing. 6. There are no extra charges levied for collection of cheques drawn on a bank located within the grid. International experience of CTS: Denmark and Belgium are pioneers in CTS. They adopted complete cheque truncation system more than two decades ago. Sweden is the country that has achieved complete truncation where all the cheques can be presented and encashed at any branch irrespective of the bank on which they are drawn.
off topic question
banking ki preparation
- dono ki jarurat hai
- coaching se he ho skti hai
- ghar he online sources aur books se karna chahiye
0 voters
Guys BOB reg office ; Varanasi wale kon kon h plz reply?
banking ki preparatn k liye jarurat h
- 1 saal se bhi jyada
- 3 month ki
- 6 month ki
- 1 saal ki
0 voters
Badle ka waqt or samay hum taie karenge.
NPA in the balance sheet of the bank written in assets side whereas deposits in liabilities side, After 90 days NPA or Bad Debts are written as doubtful debts
MY STORY OF FIGHT FOR SUCCESS
although i belong to a lower middle class family
i started my preprations in september 2014 for bank exams
i gave lot of exams first was IBPS CLERK(got 117 and cut off was 125)
then meanwhile selected for AIRFORCE PILOT(SSC)
joined it and left within a week very tough decision
then gave NICL ASST., NIACL ASST.,BOB MANIPAL, IDBI MANIPAL,
RBI ASST.,, AND IN REST OF THE ALL AGE WAS LESS ONLY 20
NOW FROM 21
RRB OS1,RRB ASST.,IBPS PO (CLEARED OVERALL BUT LEFT REASONING IN .75 GOT 90MARKS), IBPS PRE CLEARED MAINS U KNOW,ANDHRA MANIPAL DINT QUALIFIED,
FEDERAL BANK SELECTED DINT JOINED
AXIS BANK DINT JOINED(NOT WORTH)
FEELING HEART BROKEN
Who fix sovereign gold bond scheme interest rate ? RBI or bank ?
puys help me out.... mera college meri 3rd year ki marksheet nhi de rha... kal aao karke 14 din beet gaye..... mein interview k liye concentrate nhi kar paa rha... college ka banda shayad paisa khana chahta hai par bolta hi nhi... unhe pta hai ki mera interview hai... kya karoon... mjhe pta hai meri mrksheet unke paas hai... university jaakar provisional loon kya... kaise log hai ye...
OBC ka certificate koi sa bhi chalega ya phir ibps ne jo format diya hai usse dubara banana padega
I have obc certificate which was used in sbi po interview
should i stay with it or go for new one as format prescribed by ibps po
Guys can anyone please provide me icici po exam pattern.The exam is of one hour.I am giving a try because exam centre is barely 5 minutes walkable distance from home(its on 28th Jan)
What is fiscal prudence?
#OffTopic
Himachal Gramin Bank ka joining notice aaya hai. 😐
Why the hell my name is not in the list?? 😰
can anyone please tell what is the salary of a PO in UCO bank(specifically)???
TIA
Hi!
this is about OBC Certificate. The IBPS format mentions signature by DM. My friend has one signed by SDM. will he need to get one a new or the one with signed by SDM will work?
Help pls!IBPS PO 2015 - A comprehensive strategy for Personal Interview - Part 3
In the previous article, we discussed different questions that may be asked across categories and the strategy to tackle such questions. In this article, we will discuss more such areas you might face questions from.
Academics:
Academic qualifications are highly focussed in the interview as they are crucial to the position you are being hired for. Questions on academics test your knowledge about the course you have pursued and your career choice.
. After matriculation, we choose a particular stream of education based on our future career goals. Also, some might change their stream of career again when choosing a job after completing their education.
. In this category, questions might differ for beginners and candidates with prior work experience.
. Create a strategy by reexamining important aspects about your educational and vocational decisions in order to convey relevant points to the panel.
. It is highly possible that novices may be asked more questions by interviewers regarding the graduation course. You
. Go through textbooks and revise definitions, formulae & concepts thoroughly. In addition, keep track of recent developments related to the subject of your graduation as it proves that you have a genuine interest in the field. Practical knowledge about the field will leave a good impression.
. You can also present your major academic projects & assignments, internship certificates, etc to the panel.
. Sometimes, interviewers may ask you questions from another subject/area which you may not be able to answer. During such situations, having a good knowledge of the core concepts will help you to lead the interviewers to your areas of excellence.
Job Experience:
. Be thoroughly prepared for questions related to your job profile, skill set, and responsibilities in your company. While preparing for questions related to this area, bring out a clear picture of the importance of your work in your previous job.
. Interviewers judge your ability to tackle challenges and complete the tasks given based on your performance in the previous job.
. Refrain from giving clichéd replies while answering questions because it may reflect badly on your sincerity and dedication regarding your future position.
. Avoid presenting your previous role, the company and co-workers in a negative light. Maintain a positive attitude toward your overall past journey as a professional.
. You can carry your project work/assignments, awards & certificates that you have received in your previous job in order to support your claims regarding your job profile and achievements.
. Keep a track of recent developments with respect to your previous field of job. You should be ready to discuss the positive/negative impact of these developments.
General Knowledge Questions:
. A candidate is expected to be aware of important national/international developments. Further, as you are opting for a Probationary Officer's role in a bank, you should well aware of recent developments in the banking Industry.
. This includes knowledge about
. You should also be able to explain basic economic and banking terms. Good preparation reflects your sincerity and interest in the field.
. It is essential to read newspapers daily, with a focus on editorials as they help you to give articulate answers.
.
Situation and Behaviour-based Questions:
. As discussed in Capsule 1 of this series, a Probationary Officer would have to handle customers and their grievances. This requires him/her to possess managerial and
. Situation-based questions test your presence of mind and assess how quickly you handle challenging situations. Some questions also put your administrative skills on trial.
. Candidates are expected to have a positive outlook and solution-centric mindset. While dealing with virtual
. To present comprehensive answers for situation-based questions related to Banking, you require
. Firstly, you should be balanced while assessing the given situation.
. Secondly, while answering, identify your strong attributes (which you might have mentioned before in your introduction). Then you can describe the actions you will take to tackle the situation. You should also describe the consequences of your actions as it will help to paint a clear picture of the situation without confusing the interviewer.
Link to IBPS PO 2015 - How to prepare for IBPS PO Personal Interview - Part 1
Link to IBPS PO 2015 - How to prepare for IBPS PO Personal Interview - Part 2 :
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If you had filled UPPSC AE form which was published in 2013 , join this thread..
http://www.pagalguy.com/discussions/uppsc-assistant-engg-2013-16-38798467
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Hey guys! Will this obc cerificate work
Important awards that can be asked in the interview?