https://www.taxtmi.com/article/detailed?id=1971 The banking sector will mandatorily migrate to the Cheque Truncation System, switching to CTS-compliant cheque books that carry security features such as a 'CTS-India' watermark and photocopy-detection marking; only these cheques will be accepted for clearing. Clearing will occur on the basis of scanned electronic images transmitted online, shortening the clearing cycle to about 24 hours, reducing human intervention and transit loss, and enhancing security, while implementation costs may translate into future transaction charges despite lower recurring operational costs for banks. en-us Mon, 17 Dec 2012 10:51:59 +0530 Sat, 14 Sep 2013 23:25:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1971 The banking sector will mandatorily migrate to the Cheque Truncation System, switching to CTS-compliant cheque books that carry security features such as a 'CTS-India' watermark and photocopy-detection marking; only these cheques will be accepted for clearing. Clearing will occur on the basis of scanned electronic images transmitted online, shortening the clearing cycle to about 24 hours, reducing human intervention and transit loss, and enhancing security, while implementation costs may translate into future transaction charges despite lower recurring operational costs for banks. Articles Corporate Laws / IBC / SEBI Mon, 17 Dec 2012 10:51:59 +0530 https://www.taxtmi.com/article/detailed?id=1971