All About Cheque Truncation System (CTS) :
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1. In India, it started in 2010.
2. Under this system, Banks takes an electronic image of cheque and sends it for clearing.
3. CTS stopped, the physical movement of cheque from one Bank to another.
4. Through CTS, cheque clearance process becomes speedy.
5. It Solved the problem of :
A. Frauds
B. Cheque Misplacement (While Clearing of the Cheque).
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1. In India, it started in 2010.
2. Under this system, Banks takes an electronic image of cheque and sends it for clearing.
3. CTS stopped, the physical movement of cheque from one Bank to another.
4. Through CTS, cheque clearance process becomes speedy.
5. It Solved the problem of :
A. Frauds
B. Cheque Misplacement (While Clearing of the Cheque).
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