In banking, CLG is the short form of Clearning. CLG full form name is clearing. You may have noticed the word ‘CLG’ related with money put to your bank account via cheques in your passbook or bank statements. Also read – Kreditone Personal Loan App – Get 2 Lakh Amount Online
Know what CLG means in your bank’s Passbook.
This word may have appeared in your passbook after you updated it at the bank. CLG word means the cheque has been cleared by the bank and the funds have been credited to your account. Also Read – RTGS Full Form & Know about RTGS, NEFT
CLG Full Form
Learn the meaning of this word in the given table.
What is the CLG full form in the banking passbook?
|1||CLG is an abbreviation for Clearing Word.|
|2||CLG Stand for Clearing.|
|3||CLG full form name Clearing.|
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CLG stands for clearing in banking. In the case, the individual who gave you the check made a transaction commitment, and the banks resolved the transaction; this entire process is referred to as clearing. It means transferring a promise of money (typically in the form of checks or electronic payment requests) into a physical transfer of money from one bank account to another. Also read – Get Rs. 1 Lakh Personal Loan from QuickCredit App
There are 1150 cheque clearing houses in India, which are maintained by commercial bank teams and the Reserve Bank of India. The clearing houses handle transactions involving multiple banks’ checks. Also read – Get Paytm – Personal Loan Online on EMI with Low Rate
Source: List of Clearing Houses