<P> Cheque Truncation System ( CTS ) or Image - based Clearing System ( ICS ) , in India , is a project of the Reserve Bank of India ( RBI ) , commencing in 2010 , for faster clearing of cheques . CTS is based on a cheque truncation or 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 . </P>
<P> Cheque Truncation System ( CTS ) or Image - based Clearing System ( ICS ) , in India , is a project of the Reserve Bank of India ( RBI ) , commencing in 2010 , for faster clearing of cheques . CTS is based on a cheque truncation or 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 . </P>
how are cheques cleared by the banks in india
how are cheques cleared by the banks in india
cheque truncation or 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
cheque truncation or 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