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Q.

What is CTS & its benefits?

Tags: cts &
Asked by Shikha Aggarwal, 11 Feb '13 07:53 pm
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Answers (4)

 
1.

Cheque Truncation System (CTS) are the Securiy norms circulated by the RBI to all banks while issuing cheques to their customers so that duplicate cheques cannot be made by con men and frauds prevented. This includes the banks symbol in special ink which is also highlighted. CT two zero one zero is visible and transparent like in currency notes. The banks name and address is to be written on the extreme left and written on the cheque that it is CTS two zero one zero compliant. The benefits are obvious, people cannot colour zerox the cheques and frauds can be prevented optimistically !
Answered by Ritu Arora, 11 Feb '13 08:24 pm

 
  
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2.

CTS are the Securiy norms circulated by the RBI to all banks while issuing cheques to their customers so that duplicate cheques cannot be made by con men and prevent frauds. This includes the banks symbol in special ink which is highlighted. CT two zero one zero is visible and transparent like in currency notes. The banks name and address is to be written on the extreme left and written on the cheque that it is CTS two zero one zero compliant. The benefits are obvious, people cannot colour zerox the cheques and frauds can be prevented
Answered by Manoj Adwani, 11 Feb '13 08:09 pm

 
  
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3.

It is kind of cheque for the purpose of fastest clearing system which is known as CTS- Cheque Truncation System by RBI and to prevent the cheque fruad .......
Answered by pradeep mishra, 11 Feb '13 08:01 pm

 
  
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4.

Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project undertaken by the Reserve Bank of India RBI, for faster clearing of cheques.[1] CTS is basically an online image-based cheque clearing system where cheque images and Magnetic Ink Character Recognition (MICR) data are captured at the collecting bank branch and transmitted electronically.
Truncation means, stopping the flow of the physical cheques issued by a drawer to the drawee branch. The physical instrument is truncated at some point en route to the drawee branch and an electronic image of the cheque is sent to the drawee branch along with the relevant information like the MICR fields, date of presentation, presenting banks etc.
Cheque truncation, would eliminate the need to move the physical instruments across branches, except in exceptional circumstances. This would result in effective reduction in the time required for payment of cheques, the associated cost of transit and delays in proc ...more
Source: googling,,,,,,,,,,
Answered by Rocking Raaj, 11 Feb '13 07:58 pm

 
  
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