CTS
Definition |
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Cheque Truncation System
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Category |
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Business » Banking |
Country/Region |
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India  |
Popularity |
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Type |
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Initialism
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What does CTS mean?
Cheque Truncation System (CTS) is an image-based cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of cheques. 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.