answersLogoWhite

0

Inward clearing is a banking term .each bank uses one common clearing house.for eg XYZ bank customer wants to give the check to abc bank customer .so abc bank customer will deposit that check into his bank.then abc bank will send that check to clearing house for clearing .then clearing house will send that check to xyz bank for customer sign verification.xyz bank will do the sign verification and it will debit check amount from that customer account.so that check will be inward for XYZ and outward for ABC.

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

What is Inward clearing zone?

An inward clearing zone refers to a designated area within a banking or financial system where transactions, such as checks or electronic payments, are processed and settled. This zone typically facilitates the efficient clearing of funds from one account to another, ensuring that payments are accurately reconciled. Inward clearing zones are crucial for maintaining liquidity and financial stability within the banking infrastructure. They help streamline operations by minimizing delays in fund availability for both businesses and consumers.


What is zone of clearing in microbiology?

A zone of clearing is an area on an agar plate in which there is no microbial growth due to the presence of an inhibitory substance. Antibiotics placed on an agar plate will induce a zone of clearing if the bacteria it is being tested against is susceptible. Zones of clearing can also be created by other kinds of bacteria which produce exozymes or antibiotics themselves into the media to inhibit the growth of competing bacteria. Streptomyces are antibiotic producers who can be found in soil.


What is outward clearing check?

Cheques deposited in the bank for credit to their accounts, drawn on a bank other than that of the collecting bank,i.e., not a transfer cheque. Cheques are bound outward to the payee/ drawee bank (the bank that is making the payment/ on whom the cheque is drawn). Example: A cheque drawn on "Bank of America" deposited in "Chase Manhattan Bank ", is an outward cheque for Chase and is an inward cheque for Bank of America.Outward cheques could beLocal cheques (within the same geographical/ clearing zone),Outstation cheques (drawn on a bank outside the local clearing zone) orForeign cheques (drawn on a bank/ location outside the country of the collecting bank).


How is energy transferred in the radiation zone?

In the radiation zone of a star, energy is transferred through electromagnetic radiation in the form of photons. These photons travel outward from the core of the star through the radiation zone, carrying thermal energy with them. This process allows the star to maintain its equilibrium by balancing the inward gravitational force with the outward pressure generated by this energy transfer.


How do you get Ho-oh on pokemonpearl without an action replay or Pokemon XD galeof darkness?

Migrate from Ruby, Sapphire, FireRed, LeafGreen, or Emerald. (Through clearing the Mt. Battle challenge in Pokemon Colosseum from Zone 1 to Zone 100 without leaving, or through a Nintendo Event.) (Unobtainable in Diamond and Pearl.)


What are lacrosse defense man's responsibility?

To lock off his man in a man to man coverage or to cover a certain area in a zone defense. Which 1 is depending on which defense your team runs


If iodine was not available how would you tell starch hydrolysis occurred?

One way to detect starch hydrolysis is to observe a zone of clearing around the bacterial growth on starch agar plates. This clearing indicates that the bacteria produced amylase, which broke down the starch in the agar. Additionally, testing for the presence of reducing sugars, such as glucose or maltose, could also indicate starch hydrolysis.


What three things have caused mountain gorillas to become endangered?

Poaching by humans. Humans encroaching on the gorilla's habitat (clearing trees to grow food crops).Disturbance by humans, especially should the gorilla's habitat become part of a war zone.


Why no seismic waves detected at the shadow zone?

In shadow zone, seismograph does not record signals. For P-wave it is b/w 104-145 degress.These earthquake waves exhibit same properties as other waves like reflection, refraction etc.As core has denser matter so P-waves will bend inward and hences they will form a shadow zone. S-waves don't pass through liquid phase, core. So, shadow zone is larger here.


What zone do electric eels live in?

-The Epipelagic zone (sunlight zone) -The Mesopelagic zone (twilight zone) -The Bathypelagic zone (midnight zone)


What zone does the squid live in out of the sunlight zone the Twilight Zone or the midnight zone?

midnight zone?


What is the possessive word for zone?

The possessive form of the noun zone is zone's.