Cheque Clearing House

     What Is 'Cheque Clearing House'?

Let me explain the concept of Cheque Clearing House with an example.

Ø  Suppose a party from Hyderabad pays you via cheque of Canara Bank and you have account in  SBI, Mumbai. What you have to do simply is, deposit cheque in your area’s SBI branch.

Ø  When Cheque Clearing house has not came in to existence,The SBI branch manager would send his Bank Clerk to Canara Bank’s office in Mumbai to encash the Cheque, money will be deposited in to your SBI accountwhen the cheque get encashed.

Ø  But SBI would be getting thousands of cheques every day from several other banks. SBI cannot send its staff to every other bank to get the cash, that’d be extremely difficult.

Ø  To make this easy, each bank will send a representative to a centralized place where the exchange of cheques, drawn on all banks will takes place.

Ø  This centralized place is called Clearing House.

Ø  Reserve Bank of India will act as a clearing house.

Ø  In cities where RBI’s office doesn’t exist, usually SBI or other public sector bank acts as the Cheque clearing house.

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How to get Rupee symbol in Excel

Our Rupee is also credited with a symbol .To get use this symbol in Excel...simply follow the steps below



1.Download the Zip file attached herewith.
2.UnZip the Downloaded file,u will find two files namely 'Rupee.ttf' & 'Symbolize.xla'.
3.Type 'font' in 'Run' ,available in ur 'START' button.
4.Paste  'Rupee.ttf' file there.
5.Open 'Symbolize.xla' file with MS Excel

Now it was all set to use the Rupee symbol in ur Excel....


Get the ZIP file here............ Click Here To Download Zip File

Click here to know the Foreign exchange rates

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Also See,
what is Document Franking?

WHAT IS DOCUMENT FRANKING ?

WHAT IS DOCUMENT FRANKING ?

Actually, in previous days documents are being purchased from stamp vendors for preparing  an agreement. But now the agreements papers are also being printed.

Franking makes this process simpler. Here the stamping is done on the  paper in which we want to prepare agreements. Its a simple process, we just want to prepare the agreement on a white paper and it has be get stamped from a recognized stamp vendor before getting signed by the both parties.

Franking: Postal Department                 

                                You might have seen postal envelopes with the stamp denominations, NOT in actual stamps but sort-of stamped in RED or BLACK (BELOW PIC), which includes the postal amount. No separate stamps are to be affixed for such envelopes. THIS METHOD IS CALLED FRANKING. This is usually adopted for Bulk postings--like magazines, letters from companies to shareholders, etc...

This is franked envelope

FRANKING MACHINES

Franking is done by using franking machines(BELOW PIC).Franking machines are installed in some Sub-Registrar office in the State. These machines can frank up to a denomination of 999 rupees.However franking done from a AUTHORISED AGENT is valid.

Franking machine

Thanks.....