Question

what do yoy meant by inter branch transaction​

Answer 1

Defining Accounts for Inter-Branch Transactions. A transaction that takes place in a branch of your bank may involve accounts that are maintained in another branch. For example, a customer has an account in the Head Office branch and approaches another branch of the bank for a cash withdrawal.

Answer 2

The conduction of transactions between the two branches of the same company or Bank is referred to as the inter-branch transaction.

Explanation:

• The transaction of inter-branch takes place between the two branches of the same institution. An institution with multiple entities usually conducts this type of transaction between its various branches.
• Branches transact debit and credit between them to maintain the corporate relationship. Branches that are legal bodies or subordinate bodies of different legal bodies are to be balanced in their own branches in this transaction.

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