How 2 banks interact with each other either DR or CR there customer accounts?

Answer 1

Very briefly and in a straight transaction case, relating to India specific, RBI plays the role of clearing agent for both the banks. These two banks compulsorily maintain their accounts with RBI and the net Dr. or Cr. between these two banks on each day is done / reflected in RBI maintained a/cs for these two banks; and settled suitably by book entries/funds maintained by these banks with RBI.

Correspondingly, each such bank Dr. or Cr. their customers' a/cs being maintained with them respectively - the sum total of which matches with their net Dr. or Cr. they transacted at RBI. Hence accounts are balanced and tallied.

There are many complex and multiple transactions of different nature every day in banking. Therefore, the routing and settling of them could result in many "ifs" and "buts" to my above understanding to you - remember I narrated to you the simplest form of Dr./ Cr. settlement.

Answer 2

that's not significant, the two opt to cancel courses that help the needy and insulate the prosperous from doing something to help. the two opt to spend 5 Trillion on the protection stress and not a penny on practise or wellbeing. it is going to likely be a tragic day for united statesa. if he gets elected. that should be the commencing up of a classification warfare. How ought to a pair have a lot money and not cough up 3% greater to keep the country? we are on the backside tax value because of the fact the 1950's and that they choose greater. Greed is gruesome.

Answer 3

I have a account in Bank of India. I issued a cheque to Sonia Gandhi, who deposited it in Bank of Italy. Bank of Italy will ask BOI to debit account of Jeevan Kumar Mittal so that he can credit account of Sonia Gandhi.