Void pantograph in cts cheque
Rupee symbol: One can find this symbol where we write amount in figures. Printed along the words ‘CTS-2010’ mentioned along the area where we tear off the leaf from HoweverĬheque printer details: New CTS cheque contains information of printer where they are New CTS cheque book contains all security features required for processing online. There is a huge difference between CTS and Non CTS cheques.In a simple way I can say that Percentage of transaction in a bank is through cheques, due to this RBI wants fast clearing RTGS and NEFT.But still cheque is widely used for mode of payment.Aprrox 75 to 80 It is RBI effort due to which customer payment in India is in near real time in the form of Similarly central bank of India i.e RBI has been playing thisĭevelopmental role and has taken several initiatives for Safe, Secure, Sound, Efficient The central bank of any country(RBI in India) is usually playing the role for development Physical cheques are retained at the presenting bank itself.The Settlement of the CTS happens on the basis of MICR data captured from the cheques.The Images and Data are getting transmitted over the secured network.Captured images along with the data are exchanged across the banks.Amount is captured manually using the capture solution.The MICR data in the Cheques will be captured as present on MICR band.
The Electronic images of the cheques are captured for processing.‘CTS’ is the Process of stopping the physical movement of cheques from Banks to clearing house.In its place an electronic image of the cheque is transmitted to the drawee branch by the clearing house, along with relevant information like data on the MICR band, date of presentation, presenting bank, etc. Hence Truncation is the process of stopping the flow of the physical cheque issued by a drawer at some point with the presenting bank. By the introduction of this an electronic image of the cheque will be sent along with relevant information. This is so because we are now introducing technology in cheque clearing system. Many banks tried various method for creating awareness through various modes of communication like SMS alerts, letters, display boards in branches and ATMs, pop-up messages in internet banking and notification on website. Key feature of CTS cheque or Difference between CTS and NON CTSįrom last two years we have noticed advertisements in newspapers, magazines put up by banks and other financial institution insisting account holders to stop circulating non-CTS compliant cheques and replace their old cheque books with new CTS enabled ones.