Cheque Truncation System(CTS) Flashcards
1
Q
when was this launched
A
2010
2
Q
what does cts mean
A
clearance of cheques through digital means involving data matching and verification
3
Q
what was used before this
A
MICR- magnetic ink character recognition code.
4
Q
_ new rule to be introduced for CTS and will become operational from_ for cheque payments of rs_ and above
A
positive pay system. jan 1 2021. 50,000.
5
Q
cheque is defined under what
A
sec 6 of negotiable instruments act 1881
6
Q
CTS is _ based approach
A
grid.
7
Q
66 MICR Cheque Processing locations is united into the three grids in_.
A
new delhi, chennai and mumbia.
8
Q
CTS to be implemented by_
A
sept 30th 2021
