New Register for Workshop on How to start for NABARD 2025 (Stepwise Plan) - Apr 26, 7 PM

    Question

    In the banking parlance, CTS stands for

    –
    A Cheque Truncation System Correct Answer Incorrect Answer
    B Cheque Transfer System Correct Answer Incorrect Answer
    C Cheque Traditional System Correct Answer Incorrect Answer
    D Cheque Tracking System Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    CTS is a project undertaken by the RBI to ensure that faster clearing of cheques. In this method, the physical instrument does not move but the images are forwarded along with the MICR line of the cheque. Such cheques compliant with the CTS standards are less prone to any kind of frauds because of involvement of computer verification.

    Practice Next

    Relevant for Exams: