Dear All,
As you are all aware that the current cheque book cannot be used after april1, 2013. Instead of the current method of cheque clearance system, the indian banking have introduced Cheque Truncation System (CTS) which will make cheque clearance more efficient and reduce the clearance time of cheques to one day, thereby trimming down the floating time considerably.
I have attached the detailed explanation, sample cheque leaf for your kind reference.
Source: Yahoo.com
Regards,
Senthil
From India, Madras
25As you are all aware that the current cheque book cannot be used after april1, 2013. Instead of the current method of cheque clearance system, the indian banking have introduced Cheque Truncation System (CTS) which will make cheque clearance more efficient and reduce the clearance time of cheques to one day, thereby trimming down the floating time considerably.
I have attached the detailed explanation, sample cheque leaf for your kind reference.
Source: Yahoo.com
Regards,
Senthil
From India, Madras
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