Pan-India CTS to be introduced by RBI to make cheque clearing safer
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The Reserve Bank of India (RBI) is planning to implement a Pan-India Cheque Transaction System (CTS) from September 2020. The new CTS is the process of stopping the flow of the physical cheque issued by a drawer at some point by the presenting bank en-route to the paying bank branch. The new CTS will speed up the process of collecting cheques while reducing the scope for any kind of loss at transit.