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Modernisation of cheque clearing The Bank of Mauritius in collaboration with the Mauritius Bankers Association introduced a modern system for clearing cheques in September 2011. The paying banks make decision to pay by viewing the images received from the system and verifying account balances and signatures. Ii The use of correcting fluid to cover any field on the cheques. iii Cheques appear to be photocopied on a thin or light weight paper such as A4 sized paper instead of security paper...

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What is modernisation of cheque clearing?

Modernisation of cheque clearing refers to the process of improving and updating the systems and processes involved in clearing cheques to make them more efficient and secure.

Who is required to file modernisation of cheque clearing?

Financial institutions and banks are required to file for modernisation of cheque clearing.

How to fill out modernisation of cheque clearing?

To fill out modernisation of cheque clearing, financial institutions and banks must provide details on the systems and processes they have implemented to modernize cheque clearing.

What is the purpose of modernisation of cheque clearing?

The purpose of modernisation of cheque clearing is to streamline the process, reduce fraud, and make cheque clearing faster and more efficient.

What information must be reported on modernisation of cheque clearing?

Information such as the updated systems, security measures, and processes implemented for cheque clearing must be reported on modernisation of cheque clearing.

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