Considered to be a major milestone in the history of Indian banking, Cheque Truncation System aims to make cheque clearance more efficient and reduce the clearance time of cheques to one day, thereby ...

To improve the efficiency of cheque clearance and reducing clearance-related frauds, the Reserve Bank of India (RBI) has begun a cheque truncation system (CTS) as pilot project. "Presently the CTS is ...

The aim of the platform is to ensure that cheques are cleared in one day. The Central Bank of Nigeria’s cheque truncation platform, an on-going effort to reduce the settlement cycle of a cheque to one ...

New Delhi: The Reserve Bank of India (RBI) is set to implement same-day cheque clearing mechanism, effectively from from, October 4, to enable cheque clearance within a few hours of being presented, ...

Under cheque truncation system (CTS), instead of sending a physical cheque from the bank where it is issued, an electronic image of the cheque is sent for cheque clearance. Truncation is the process ...

To expedite the payment process for contractors and other cheque transactions, the state government will switch to ‘Cheque Truncation System’ from February 15. CTS will enhance efficiency of cheque ...

As part of further improving, speeding up and fool-proofing the payments and settlement systems, the Reserve Bank on Friday said all the 18,000-odd branches which are outside the centralised clearing ...

There has been a spate of ads and announcements over the last 3-4 weeks by banks in India about the introduction of the new Cheque Truncation System, CTS-2010, from the new year. For the uninitiated, ...