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According to this new system implemented by RBI, CTS is an online imaged based cheque clearing system, wherein the image of a cheque and MICR data is captured at the collecting bank and transmitted electronically eliminating the actual cheque movement.

Benefits of Cheque Truncation system
  • The cheque proceeds could be realized within the same day
  • Data storage and retrieval quick and easy
  • Reduces risks, ensures secured cheque clearing system
  • Reduces cost significantly since physical movement of cheques is reduced
  • Minimizes undue delays in presentation and realization of cheques
  • Offers shorter clearing cycles with a centralized image archival system

Trax e-Services offered quality and reliable CTS services; works through a systematic clearing cycle and ensuring all RBI regulations are strictly adhered to in implementing CTS methodology.