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A cheque clearing officer is responsible for processing and verifying cheques presented for payment, ensuring that they are legitimate and properly authorized. They also manage the reconciliation of accounts, monitor the flow of funds, and ensure compliance with banking regulations. Additionally, they may handle disputes related to cheque transactions and provide customer service support regarding cheque-related inquiries. Overall, their role is crucial for maintaining the integrity and efficiency of the cheque clearing process.
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How do you answer State your understanding of your main duties and responsibilities for back office in self appraisal form?
how to answer about my understanding of my main duties and responsibilities
What is the difference between demand draft and cheque?
The following are the main differences between a cheque and a demand draft: 1. A cheque is issued by an individual, whereas a demand draft is issued by a bank. 2. A cheque is drawn by an account holder of a bank, whereas a draft is drawn by one branch of a bank on another branch of the same bank. 3. In a cheque, the drawer and the drawee are different persons. But in a draft both the drawer and the drawee are the same bank. 4. A Cheque can be dishonored for want of sufficient balance in the account. Whereas a draft cannot be dishonored. Hence there is certainty of the payment in the case of a demand draft. 5. Payment of a cheque can be stopped by the drawer of the cheque, whereas, the payment of a draft cannot be stopped. 6. A cheque is defined in the Negotiable Instrument Act, 1881, whereas a demand draft has not be precisely defined in the NI Act. 7. A cheque can be made payable either to a bearer or order. But a demand draft is always payable to order of a certain person.
What are the main duties of a bank cashier?
Cashier of the bank is "an executive officer, by whom its debts are received and paid, and its securities taken and transferred, and that his acts, to be binding upon a bank, must be done within the ordinary course of his duties. His ordinary duties are to keep all the funds of the bank, its notes, bills, and other choses in action, to be used from time to time for the ordinary and extraordinary exigencies of the bank. He usually receives directly, or through the subordinate officers of the bank, all moneys and notes of the bank, delivers up all discounted notes and other securities when they have been paid, draws checks to withdraw the funds of the bank where they have been deposited, and, as the executive officer of the bank, transacts most of its business
What is different between cheques and drafts?
. MeaningA cheque is an unconditional order directing the banker to pay a certain sum of money only to or to the order of a certain person.A draft is an order to pay money drawn by one office of a bank upon another office of the same bank for a sum of money payable to order on demand.2. FacilityThe current account and saving account holders get a cheque facility.Draft is issued to anyone even to non-account holders.3. PurposeCheques are used to make payments or to settle transactions. There is no certainty of payment in the case of cheques as they can be dishonoured or payment can be stopped.The main purpose of a draft is to transfer money from one place to another or to guarantee the certainty of payment to the payee.4. DrawerIn case of cheque, the drawer is the customer of the bank.In case of draft, the drawer is the bank itself.5. Bank chargesThe bank may not charge for issuing the cheque book.The bank charges a nominal fee or commission to issue a draft.6. DishonourCheques can be dishonoured for various reasons.There is no question of dishonouring of draft.7. Stopping of paymentIn case of cheque, the drawer can ask the bank to stop payment of the cheque even if it is delivered to the payee.In case of draft, the purchaser of the draft can ask the bank to stop payment before the draft is delivered to the payee.8. PopularityCheques are very common and popular mode of payment.Drafts do not enjoy much popularity as compared to cheques.9. ClearanceIn case of cheque, there is a need for clearance.In case of a draft, there is no need for clearance, if DD is drawn on the same bank.10. Parties involvedThree parties are involved in cheque transaction viz., (a) Drawer, (b) Drawee, and (c) Payee.Two parties are involved in draft transaction viz., (a) Drawer, and (b) Payee
What is the duties of income tax inspector?
The main job of an income tax inspector is the collection of taxes. This means making sure that all individuals file their taxes. They also are charged with finding out who is defaulting on their individual taxes.
What are the main duties responsibilities of a business development officer?
. State your understanding of your main duties and responsibilities. . State your understanding of your main duties and responsibilities.
General duties of a protocol officer?
A protocol officer has many duties. One of their main duties include advising staff members on what is expected of them in regards to etiquette using specific guidelines.
What are the main duties and responsibilities of a bank personnel?
The main duties of bank personnel differs from post to post or grade IE. subordinate staff, clerical staff and for officer's .
What are the main duties of the police?
Primarily to enforce the criminal laws and regulations and protect the citizens and property in his jurisdiction. In actuality, an officer's job covers much more than this narrow range - but those listed are ther MAIN duties and responsibilities.
What are the duties of site safety officer?
The main duty of the site safety officer is to ensure that all of the safety rules and regulations are being followed. The safety officer also make suggestions as to what new rules can improve safety.
What are 5 things that should be recorded in your check register?
The main things that must be recorded in your cheque register are: 1. Date of cheque issue 2. Payee to whom the cheque is issued 3. Cheque Amount
What are the main duties of selling credit cards?
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What are the duties of welfare officer in the church?
The duties of a welfare officer in the church will vary from church to church. Their main duties are to just work with those in need of the church such as giving them food or money for utilities.
How do you answer State your understanding of your main duties and responsibilities for back office in self appraisal form?
how to answer about my understanding of my main duties and responsibilities
