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What is the purpose of physical verification?

Physical Verification
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Question added by Muhammad Naseer Ud Din Hammayyun Hammayyun , Accountant , Almorkhania Gen Cont LLc
Date Posted: 2014/09/26
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faisal sheikh
by faisal sheikh , Credit Analyst , Khushali Bank Ltd

Purpose of physical verification is to check the clients reputation, payback behavior,Client residential and business check and usage of loan.

 

Amit Shakya
by Amit Shakya , Processing Officer , HDFC BANK LTD

In ward and Out ward Clearing : Cheque

 

1)Verify all the account  details.2)Ensure Balance is correct and then send a positive ack.

3) MICR

4)Transerfering the Physical cheque to Clearing House etc

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