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| Definition | : | Cheque Truncation System |
| Category | : | Business » Banking |
| Country/ Region |
: | India
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| Popularity | : |
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| Type | : |
Initialism
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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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The full form of CTS is Cheque Truncation System
Cognizant Technology Solutions | Cheque Truncation System