CTS

Definition : Cheque Truncation System
Category : Business » Banking
Country/Region : India India
Popularity :
Type :
Initialism

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.

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