Explain the following terms with reference to electronic banking and IT activities in the banks : (ii) CHIPS
CS Professional · Banking - Law and Practice · PYQS · December 2015
Explain the following terms with reference to electronic banking and IT activities in the banks : (ii) CHIPS
Answer & Explanation:
Clearing House Inter Bank Payment System (CHIPS) is a clearing system run by New York clearing house. The financial transactions such as foreign and domestic trade services, international loans, syndicated loans, foreign exchange trade settlements, are carried out through CHIPS.
Topics: Electronic Banking
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