Try GOLD - Free
Cheque clearance process all set to get faster thanks to CTS
BANKING FINANCE
|March 2021
To expedite the process of clearance of cheques, the RBI has announced bringing all bank branches under the Cheque Truncation System (CTS). Also, the apex bank wants to centralize the digital payment helpline to address consumer grievances.
-
Currently, CTS is operational in most of the clearing houses across India. However, some bank branches are yet to come under its purview.
About 18,000 bank branches are still outside any formal clearing arrangement. It is now proposed to bring all these bank branches under CTS clearing by September.
With this measure, all bank branches in the country would be covered under the CTS. This will enhance customer convenience and bring operational efficiency to the paper-based clearing system.
This story is from the March 2021 edition of BANKING FINANCE.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM BANKING FINANCE
BANKING FINANCE
Indian women rank high Al skills globally, but top roles held by men
The penetration of AI skills is highest among Indian women than anywhere else globally, data from the recent Stanford AI Index suggests.
1 mins
May 2026
BANKING FINANCE
SEBI eases fundraising norms for social enterprises
The Securities and Exchange Board of India has introduced key relaxations to strengthen the Social Stock Exchange (SSE) framework and improve fundraising avenues for not-for-profit organisations (NPOs).
1 min
May 2026
BANKING FINANCE
Capacity building in cooperative and rural banks: A detailed analysis
Cooperative and rural banks occupy a vital position in India's financial architecture.
4 mins
May 2026
BANKING FINANCE
RBI proposes bank account portability for customers
Reserve Bank of India is planning to introduce account portability, allowing customers to switch banks without changing their account numbers.
1 min
May 2026
BANKING FINANCE
Mutual fund SIP inflows hit record Rs. 32,087 crore in March
Systematic Investment Plan (SIP) inflows in mutual funds surged to an alltime high of Rs. 32,087 crore in March, marking an 8% increase from Rs. 29,845 crore in February, according to industry data.
1 min
May 2026
BANKING FINANCE
Vinay Tonse takes charge as YES Bank MD & CEO
YES Bank has appointed Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer, effective April 6, 2026, for a three-year term.
1 min
May 2026
BANKING FINANCE
Cryptocurrency and Indian Banking: Opportunities, Risks, and the Road Ahead
Cryptocurrency is a digital currency that uses cryptography for secure transactions and runs on blockchain technology.
8 mins
May 2026
BANKING FINANCE
Bharti Airtel becomes world's second-largest telecom operator
Bharti Airtel has crossed 650 million users globally, emerging as the secondlargest telecom operator by subscriber base, according to GSMA Intelligence.
1 min
May 2026
BANKING FINANCE
Unclaimed deposit payouts surge after RBI campaign
Reserve Bank of India said payouts of unclaimed deposits have surged significantly following targeted campaigns and incentive schemes. Monthly payouts rose to Rs. 760 crore from October 2025 onwards, compared to Rs. 180 crore during April-September 2025.
1 min
May 2026
BANKING FINANCE
The Evolution of RPA in Finance: From Task Automation to Strategic Decision Making
Robotic Process Automation has significantly transformed the financial services sector.
2 mins
May 2026
Translate
Change font size