CTS meaning in Banking ?

Answer:

What is Cheque Truncation System mean?

Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques. CTS is based on a cheque truncation or online image-based cheque clearing system where cheque images and magnetic ink character recognition (MICR) data are captured at the collecting bank branch and transmitted electronically.

Cheque truncation means stopping the flow of the physical cheques issued by a drawer to the drawee branch. The physical instrument is truncated at some point in route to the drawee branch and an electronic image of the cheque is sent to the drawee branch along with the relevant information like the MICR fields, date of presentation, presenting banks etc. This would eliminate the need to move the physical instruments across branches, except in exceptional circumstances, resulting in an effective reduction in the time required for payment of cheques, the associated cost of transit and delays in processing, etc., thus speeding up the process of collection or realization of cheques.

reference

Full Form	Category
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Continental Theological Seminary	Academic & Science
Chrome-Tungsten Steel	Academic & Science
Classroom Technology Services	Academic & Science
Career Technology Studies	Academic & Science
Cell Transplant Society	Academic & Science
Cognitive Technology Society	Academic & Science
Cash To Spend	Accounts and Finance
Sapporo	Airport Code
Cheque Truncation System	Banking
Complaint Tracking System	Banking
Check Truncation Sysytem	Banking
Carmichael Training Systems	Business
Conveyorized Two Station	Business
Child Transport System	Business
Chicago Telephone Service	Business
Call The Shots	Business
Customer and Trading Support	Business
Cordless Tools Store	Business
Chicago Telephone Supply	Business
C T S Corporation	Business
Copper Tube Size	Business
Cylinder Tine Separation	Business
Chirstmas Tree Snow	Business
Corporate Translation Services	Business
Certified Tax Specialist	Business
Coolant Temperature Sensor	Chemistry
Center for Traffic Statistics	Community
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Community Television Station	Community
Celebrate The Spirit	Community
Catholic Truth Society	Community
Critical Thinking Skills	Community
Crossroads Television System	Community
Christian Theological Seminary	Community
Computer and Technology Showcase	Community
Chinese Television System	Community
Connecting the Schools	Community
Consolidated Tape System	Computer Hardware
Carpal Tunnel Syndrome	Computing
Conformance Testing Service	Computing
Computer Telephony Solution	Computing
Contract Technical Services	Computing
Complete Technology Solutions	Computing
Communication Technology Services	Computing
Call Center Ticket System	Computing
Character Tabulation Set	Computing
Clock Tree Synthesis	Computing
Component Transaction Servers	Computing
Common Type System	Computing
Computer Type Setting	Computing
Cics Transaction Server	Computing
Common Transport Semantics	Computing
Composition Time Stamp	Computing
Cyberlink Task Scheduler	Computing
Customer Technical Support	Computing
Command and Telemetry Service	Computing
Carphal Tunnel Syndrome	Computing
Customer Training Specialist	Computing
Creation Time Stamp	Computing
Corel Technical Services	Computing
Cipher Text Stealing	Computing
Communications Technology Satellite	Computing
Configuration Technical Specialist	Computing
Cyber Test Systems	Computing
Citrix Terminal Services	Computing
Common Transfer System	Computing
Conformance Test System	Computing
Click To Search	Computing
Consolidated Telecom Services	Computing
Permanent Location Contents (abc Programming Language)	File Type
Controlled Throttle Shifting	General
Canadian Tire Series	General
C-Series Touring Sedan	General
Craftsman Truck Series	General
Compact Touring Series	General
Cargobull Trailer Stores	General
Catera Touring Sedan	General
Central Texas Speedway	General
Catalyst Temperature Switch	General
Coolant Temperature Switch	General
Charge Temperature Sensor	General
Connect Telematics Systems	General
Certified Telematics Service	General
Commodity Transportation Survey	General
Center for Transportation Studies	General
Correspondence Tracking System	General
Cruising and Traffic Support	General
Calibra Team Sweden	General
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Chicago Theological Seminary	General
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Credit for Time Served	General
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Compact Touring Sedan	General
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Christ the Shepherd	General
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Cunningham Trading Systems	General
Construction Testing Service	General
Construction Testing Services	General
Core Text Search	General
Container Terminal Salzburg	General
Cadet Training Ship	General
Collaborative Testing Services	General
Common Types System	General
Cylinder Tine Separator	General
Change Table for Statutes	General
Canada Treaty Series	Governmental
Cadillac Touring Sport	Governmental
Candidate Tracking System	Governmental
Cosmic Top Secret	Governmental
Counseling and Testing Site	Governmental
Cubic Transportation Systems	Governmental
Central Travel Summary	Governmental
China Travel Service	Governmental
Corporate Transportation Specialist	Governmental
CHHATARIPUT	Indian Railway Station
Clear To Send	Information Technology
υπηρεσίες δοκιών συόρφωσης	International
Changing The Subject	Internet
Certified Technology Specialist	Jobs
Certified Temporary Specialist	Jobs
Certified Trauma Specialist	Jobs
Certified Temporary Staffing	Jobs
Cross Table Sampling	Maths
Compulsive Traveller's Syndrome	Medical
Clinical Technical Support	Medical
Carpal Tunnel Syndromes	Medical
Cell Therapy Systems	Medical
Cardio-Thoracic Surgery	Medical
Clinical Trial Studies	Medical
Conflict Tactic Scale	Military and Defence
Contact Test Set	Military and Defence
Change Tracking System	Military and Defence
Common Targeting System	Military and Defence
Combat Training Squadron	Military and Defence
Commodity Tracking System	Military and Defence
Course To Steer	Military and Defence
Cluster Testing System	Networking
Component Transaction Server	Networking
Communication Terminal Synchronous	Networking
Convert Texture Sequence	Physics Related
(West African) Command Clerks Training School	Regional
New Chitose Airport, Chitose, Sapporo, Hokkaido, Japan	Regional
Careflow Transcription Suite	Softwares
Cognizant Technology Solutions	Softwares
Canadian Technology Satellite	Space Science
Communications and Tracking System	Space Science
Computer Test Set	Space Science
Computerized Training System	Space Science
Commercial To Space	Space Science
Combined Trading System	Stock Exchange
Connected Technology Solutions	Technology
Consolidated Technology Services	Technology
Call Tracking System	Telecommunication
Cordless Telephone System	Telecommunication
New Chitose Airport	Transport & Travel
Core Treasury System	Uttarakhand Government