Banking · Cheque Truncation System
What is meant by a 'truncated cheque' in the banking system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A cheque that can only be encashed directly at the issuing bank.
- 2A cheque that is destroyed immediately after being deposited.
- 3A cheque whose physical movement is stopped and processed using its electronic image.✓
- 4A cheque that is physically cut into two parts before processing.
Correct answer
A cheque whose physical movement is stopped and processed using its electronic image.
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