The full form of CTS is Cheque Truncation System. A Cheque Truncation System (CTS) is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of cheques. As the name suggests, truncation is the process of stopping the flow of the physical cheque in its way of clearing. In its place an electronic image of the cheque along with MICR number is sent to the drawee bank from the drawer bank.
OTHER FULL FORM OF CTS
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