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In olden days, the drawee bank used to send cheques to the drawer’s bank to get it cleared. Now the drawee bank truncates the cheques and send it to the drawer’s bank. What is ‘truncated cheque’ ? a) a cheque cut into 2 pieces b) a cheque in a trunk c) scan of the physical cheque d) Cheque which is tranquilized |
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Answer» Correct answer is c) scan of the physical cheque |
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