State Bank of India, Tiruchi, in coordination with its MICR Centre and Centralised Clearing Processing Centre, Tiruchi, arranged an interface between Reserve Bank of India and member banks of the Tiruchi Clearing House here recently. P.Vijaykumar, General Manager (DPSS & NCC), RBI, Chennai, spoke in detail about the functioning of clearing operations and the payment systems such as RTGS / NEFT and Speed Clearing. He explained the advantages of truncation of clearing instruments to be introduced soon wherein the clearing process would be undertaken based on the images of instruments. This initiative by the RBI would further speed up the processing of clearing, he added. Various queries raised by member banks during the interactive session were clarified by Mr.Vijaykumar and C.Saravanan, Assistant General Manager, RBI, Chennai. Officials from State Bank of India and around 40 member banks of Tiruchi Clearing House participated, a press release from the SBI here said.
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