RBI clarified how cheque truncation and continuous clearing speed up settlements by using electronic images instead of physical cheques. The FAQs outline timelines, safeguards, and customer ...

RBI introduced continuous clearance under the Cheque Truncation System (CTS) to make cheque clearing faster and smoother by ...

Truncation is the process of stopping the flow of the physical cheque in branch and presenting an electronic image of the cheque through the clearing house along with details such as data on the MICR ...

The Reserve Bank today said that the Cheque Truncation System (CTS), which is currently operational at the major clearinghouses of the country, will be made operational across all branches of the ...

The Reserve Bank of India (RBI) has postponed the implementation of Phase 2 of Continuous Clearing and Settlement on Realisation in Cheque Truncation System (CTS) until further notice. The central ...

“To facilitate transition to continuous clearing, it has been decided to modify session timings and conduct special clearing in the cheque truncation system (CTS) on October 3,” RBI said. MUMBAI: The ...

Tomorrow marks the dawn of a new era as the banking industry changes how cheques are processed and cleared. From Wednesday, Kenyan banks will electronically process and clear cheques, removing the ...

As part of further improving, speeding up and fool-proofing the payments and settlement systems, the Reserve Bank on Friday said all the 18,000-odd branches which are outside the centralised clearing ...

The Reserve Bank of India announced the introduction of new rule 'Positive Pay System' for Cheque Truncation System (CTS) in August 2020 to ensure safe and sound cheque payments. This new rule for ...

In a bid to accelerate clearance of cheques, the Reserve Bank of India (RBI) on Thursday said it has decided to implement a cheque truncation system (CTS) across the country by September this year.

Questions are emerging over the efficiency of the much touted cheque truncation system. It had been expected that with the new system in place, bank customers countywide would enjoy shorter cheque ...