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CLG is a commonly used acronym in the banking industry which refers to "Clearing". It is a term which is used to signify that a bank is processing a financial instrument for payment.

For ex: If you deposit a cheque in your bank account, it will be sent for "Clearing" to the cheque issuer bank and once the issuer bank processes it and sends the money, your bank will credit the money into your account. In the time between you depositing the cheque and receiving the money, the cheque is said to be in "Clearing" status.

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11y ago

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