Reserve
Bank of India system primarily knows as Cheque Truncation System,
no physical cheque is being required to be sent to different branches ... this system, the photocopy of the cheque is taken and the
same is transmitted through the Cheque Truncation System. A grid is
maintained
with respect to Cheque Truncation
System (CTS) since it is not in dispute that the truncated image of the cheque was
sent to the Plaintiff ... cheques. Cheque
truncation is the conversion of a physical cheque into a substitute electronic form
for transmission to the paying bank. Cheque truncation eliminates cumbersome
bank
through Clearing House Interface (CHI) of the 'Cheque Truncation
System' (CTS) of the National Payment Corporation of India (NPCI)
and 'settlement ... data of cheques in the Clearing House
Interface (CHI) of the Cheque Truncation System. Defendant DBS
Bank India Ltd. which collected payment on behalf
will be applicable only for cheques cleared under the image-based Cheque Truncation System (CTS) and the same is not applicable with respect to cheques ... State Bank of India, Jhansi Branch, did not have image-based Cheque Truncation System (CTS) and, therefore, under the said Circular, the cheque with alteration
case may be ;
(b) "a truncated cheque" means a cheque which is truncated
during the course of a clearing cycle, either ... carried out by "Cheque Truncation" and
hence banks have now provided their customers with CTS (Cheque
Truncation System) cheques. The CTS cheques carry
written version. He emphasizes that as per procedural guidelines
for Cheque Truncated System (CTS), it is the responsibility of the
presenting bank to check that ... small explanation of CTS clearance
adopted by the bank. CTS means Cheque Truncation System. In
order to avoid physical movement of cheques and for fast
written version. He emphasizes that as per procedural guidelines
for Cheque Truncated System (CTS), it is the responsibility of the
presenting bank to check that ... small explanation of CTS clearance
adopted by the bank. CTS means Cheque Truncation System. In
order to avoid physical movement of cheques and for fast
valid and accepted in all
clearing houses (including the cheque truncation system
(CTS) Centers) for another four months up to July 31, 2013
subject ... valid and
accepted in all clearing houses (including the cheque
truncation system (CTS) centers) for another four months up
to July 31, 2013 subject
issued guidelines for undertaking
and implementing a clearing system known as Cheque Truncation
System (CTS clearing) wherein data on the cheque is captured ... cheque for
dishonor thereof.
7) It is case of the opponent that the Reserve Bank of India had started
clearing system, namely Cheque Truncation System
another Cheque bearing no. GEN
270464 dated 27.02.2020 for an amount of Rs.1,50,000/- through
Cheque Truncation System (CTS) and on the basis ... bank is relying upon
clause 3.1 of the procedural guidelines for Cheque Truncation System
but has completely overlooked its own responsibility in terms
