Cheque Truncation System (CTS) INDIA - 0 views
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cloud jack on 21 Dec 10CTS will bring in huge benefits to customers by substantially reducing the time taken to clear the cheques as well as to the banks by increasing operational efficiency by cutting down on overheads in physical cheque clearing by using cheque image, instead of the physical cheque. The cheque image is truncated at the presenting bank. Subsequently, the cheque image moves through various steps in the cheque-clearing cycle and transactions are settled on the basis of images and the data.