The Cheque Truncation System (CTS) is an online Image-based Clearing System (ICS).  In this system of clearing, the collecting bank need not present the physical cheque to the drawee branch. The presenting bank captures the cheque images and Magnetic Ink Character Recognition (MICR) data from end-to-end precise scanners by using the Capture System. The electronic … Continue reading What is Cheque Truncation System?