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Question
show the importance of "banker's clearing house" in modern banking.
Solution
- Efficiency: Speeds up the processing and settlement of cheques and other payment instruments.
- Accuracy: By settling net balances swiftly, banks can better manage their liquidity.
- Trust and reliability: Transparent and trustworthy transactions help to build trust in the banking system.
- Dispute Resolution: Provides a system for settling payment anomalies and disputes among banks.
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