Question

.........is a cheque clearance system that involves the digitalization of a physical paper cheque into a substitute electronic form for transmission to the paying bank is called

• A. Demat
• B. Truncation
• C. Remat
• D. Securitization

Answer 1

Answer:

B. Truncation

Cheque truncation converts physical cheques into electronic images for faster clearing without moving the physical cheque