Posts Tagged ‘clearing’

It’s all about CTS 2010- New Cheque Truncation system

It’s all about CTS 2010- New Cheque Truncation system

Many times we come across cheating incidents caused by changing cheque amount or by doing cheque tampering.  In order to prevent this type of frauds & to shorten clearing cycle RBI has taken good initiative of CTS it is now mandatory for banks to issue standardized form of cheuqes as per CTS-2010 standard guideline. This new cheque clearing system will be applicable from 1st January,2013. With this, the bank will not accept all non-CTS cheques (that you issue from your […]