There has been a spate of ads and announcements over the last 3-4 weeks by banks in India about the introduction of the new Cheque Truncation System, CTS-2010, from the new year. For the uninitiated, ...

MUMBAI: The Reserve Bank of India will hold a special session on October 3 to test the system capabilities of banks for the new lower time lags for the cheque truncation system that will come into ...

New Delhi, Sep 6 (PTI) Punjab National Bank (PNB) has asked its customers to get their non-CTS compliant cheques replaced as these instruments will not be accepted for clearance in the banking system ...

Come January 1, your cheque of a larger amount of Rs 50,000 and above will bounce unless you intimate your bank in advance on drawing up such a cheque. The new system introduces a double check on the ...

Soon after I wrote CTS2010: Cheque Truncation Or Contract Termination System?, a senior banker averred to me in private that India's cheque truncation program had a lot of loose ends. A friend of mine ...

MUMBAI, India--(BUSINESS WIRE)--NCR Corporation (NYSE: NCR) and National Payments Corporation of India (NPCI) announced today the successful completion of the landmark Cheque Truncation System (CTS) ...

The Reserve Bank on Tuesday asked non- banking financial companies (NBFCs) to replace post-dated cheques issued to them by customers with new standardised cheques with improved security features.

Borrowers from NBFCs have now time till March 31 to replace their old system bank cheques with new ones with added security features for their EMI payments, as RBI has extended the deadline in this ...