Saturday, September 3, 2011

Re: [ vuZs.net ] Viva

Inward clearing means the cheques received by the bank from other banks. 

These - Inward clearing - cheques are the cheques drawn by the bank/branch customers on their account in favour of other parties. On receipt of the inward clearing, the cheques are posted to the various accounts on which they are drawn -meaning the accounts of the cheque issuer or drawer with the bank is debited to the account and the payment is made to the bank presenting the cheque.

Outward clearing means the cheques sent for collection. 

When a particular branch receives instruments drawn on the other bank within the clearing zone and sends those instruments for collection through the clearing arrangement is considered as Outward Clearing for that particular branch. This branch is known as collecting branch.


In other words, inward clearing is for our branch and outward clearing is for other banks or branches.  When we receive inward clearing we have to debit our customer account and when we receive outward clearing we have to send it to relevant bank for payment.


Regards
Umeed





On Sat, Sep 3, 2011 at 10:21 AM, mc090404173 Muhammad Zeshan Qaisar <mc090404173@vu.edu.pk> wrote:

Inward clearing is settslment of cash transctions without cash with one means NBP to NBP all over the country 

and out ward clearing settalment of transctions to one bank to another bank means NBP to all other banks 


On Sat, Sep 3, 2011 at 7:23 PM, mc100200990 Kanwal Arif <mc100200990@vu.edu.pk> wrote:
According to me in word clearing is with one bank branches clearing. and out word clearing is clearing of other banks transactions /cheques clearing. but m not sure. 



On Sat, Sep 3, 2011 at 7:04 AM, (¯`'•.¸♥محمد♥¸.•'´¯) <mc090402355@vu.edu.pk> wrote:
according to my mind inward is internal audit of daily weekly or monthly activities of bank which are perform with in the bank and out word is all dealing with other branches of same bank or other branches of other banks.


On Sat, Sep 3, 2011 at 5:45 PM, mc090405216 Arshia Osaf <mc090405216@vu.edu.pk> wrote:
AOA all
Anyone can explain me the inward clearning and outward clearing of Banks?
 
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You're truly,

Muhammad Asif

Management Specialist


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Muhammad Zeshan Qaisar
MBA Finance IV

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