MICR stands for Magnetic Ink Character Recognition. It is a system using which magnetic readers can easily identify the bank that issued the cheque and other details reg. the cheque. Yes, all banks...
At par cheque is a cheque on which no charge is deducted by the bank for crediting to your account, even if your account is in a branch that is in a different city from where the cheque is issued....
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the...
A cheque is a negotiable instrument that can be issued by one person to pay money to another person/entity. The person to whom the cheque is issued is entitled to receive the sum mentioned in the...
Identification is required by banks to open an account, so if money is deposited into an account, the bank knows whose account it is (unless the documents used to open the account were also forged,...