*BANKING TITBITS:#576* *MOI on Bills Purchased* *Drawing against clearing cheques* *Advances against cheques to be sent in clearing (LCDB)* Advances against cheques to be sent in clearing are to be treated as discount of local cheques (LCDB) & same accounting procedure,documentation, monitoring, etc., as applicable for discount of outstation cheques (CDB) should be followed so far as they are relevant for the purchase of local cheques. *Drawings permitted against cheques already sent* In case of drawings permitted against cheques already sent in clearing, no separate documentation is necessary, as the current account opening form takes care of any overdrawings in the account, recovery towards cheques returned, etc. *TEAM CBOA COIMBATORE* (For Educative Purpose & Internal Circulation only, please follow https://tinyurl.com/cboaofficialwhatsappchannel for daily updates)