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Reserve Bank of India has asked banks to implement the image-based Cheque Truncation System (CTS) in all branches by September 30 this year. The move is aimed at faster settlement of cheques resulting in better customer service.
 
Last month, the RBI had announced pan-India coverage of CTS by bringing all bank branches under the image-based clearing mechanism.
 
The Apex bank said that to leverage the availability of CTS and provide uniform customer experience irrespective of location of her/his bank branch, it has been decided to extend CTS across all bank branches in the country. To facilitate this, banks will have to ensure that all their branches participate in image-based CTS under respective grids by September 30.



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