Multiple choice

Which is the first bank to introduce intra-bank inter-city Cheque Truncation System in India?

  1. State Bank of India

  2. Punjab National Bank

  3. Corporation Bank

  4. Bank of Baroda
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Punjab National Bank was the first bank to implement intra-bank inter-city cheque truncation in India. Cheque truncation eliminates physical cheque movement by using electronic images, speeding up clearance. PNB pioneered this system for inter-city transactions within their own network. SBI and Corporation Bank adopted it later.

Keep practicing — related questions