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CHEQUE TRUNCATION SYSTEM
RBI postpones 2nd phase of quicker cheque clearing mechanismThe Reserve Bank has postponed the second phase of its faster cheque clearance system. This move provides banks more time to adjust their o...- In Graphics: Post-dated clearing of cheques is historyUsage of cheques has plunged since the Covid pandemic. The growth in the value of cheques processed by banks fell 10% between 2019 and 2024...
- Banks to clear cheques within few hours from Oct 4: RBIReserve Bank of India will launch a faster cheque clearing system. This new system aims to clear cheques within hours. The current process ...
- RBI action: Cheques to be cleared within few hours now, closing in on NEFT, RTGS speed of transferThe Reserve Bank of India has stated that the clearance of cheques will be expedited to within a few hours. This announcement was made by t...
- What is RBI's Cheque Truncation System (CTS): What is CTS-2010 Standard Cheque, are non-CTS cheques invalid?
- SBI Positive Pay: How to submit high-value cheques at a bank branch? Format and processBefore presenting a high value cheque, State Bank of India (SBI) customers must submit the details of their cheques in accordance with the ...
- How PNB customers can submit positive pay data online to get these high-value cheques clearedPunjab National Bank (PNB) informed last month that high-value cheques valued more than Rs 10 lakh will be cleared using the Positive Pay S...
- Protection of personal data should be backed by the law, says RBI executive director SankarProtection of personal data should be backed by a legal provision as it will help ensure privacy and confidentiality of individuals, a seni...
- RBI to introduce pan-India CTS by Sept 2020 to make cheque clearing safer, fasterThe RBI is now planning to implement a pan-India Cheque Truncation System from September 2020.
- No clearance of non-CTS compliant cheques from January: Punjab National BankThis eliminates the cost of movement of physical cheques and reduces the time for clearance for better delivery of services to customers.
- Deadline ends, old cheques make way for safe, fast CTSThe deadline for switching to new format bank cheques under the cheque truncation system (CTS) ended on Wednesday.
- Follow uniform holiday calender for CTS cheque clearing: RBI"The CTS centres in New Delhi, Chennai and Mumbai will adopt RTGS holidays as uniform holidays for the respective grid," RBI said.
- Non-Cheque truncation system cheques valid until JulyCheque truncation system (CTS) refers to RBI’s plan to discontinue routing paper cheques all the way from the drawee’s bank branch to the i...
- ET in the Classroom: Why you need CTS cheques?rom April 1, your cheque book will become invalid if it is not CTS 2010-enabled. Here's why.
- NBFCs allowed to migrate to new standard cheques till March 2013Borrowers from NBFCs have now time till March 31 to replace their old system bank cheques with new ones with added security features for th...
- RBI asks banks to issue cheques with uniform features by September 30The Reserve Bank today directed all banks to issue cheques with uniform features conforming to Cheque Truncation System (CTS) 2010 standard...
- RBI asks banks to issue Cheque Truncation System 2010 standard cheques from April 1RBI today directed all banks to issue cheques conforming to CTS 2010 standard with uniform features from April 1, 2012, onwards.
- Delhi Banks won't accept cheques with overwriting from todayCheques with overwriting or cutting will not be honoured by the banks in the capital from today, a move intended to prevent fraudulent with...
- ET in a classroom: Cheque Truncation SystemIt is one of the major innovations in cheque clearing after the Magnetic Ink Character Recognition (MICR) cheques introduced in the 80s.
- Alert: RBI clarifies on honouring of cheques with alterationsRBI has clarified that its directive to banks, asking them not to honour cheques with alterations, will be applicable only for cheques clea...
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