CTS Clearing
Benefits
Customer Service
Extended cut off time for acceptance of Customer Cheques by banks
Easy retrieval of information
Reduced timelines for clearing
Operational Benefit
MICR amount encoding not required
Reconciliation difference eliminated - MICR and Image data travel together
No cheques being lost/tampered/pilfered
No risk of any manipulation of data and image during transit
CTS 2010 standards leading to enhanced security and automation
Commercial Benefit
Cost involved in paper movement eliminated
Grid implementation allowing better liquidity management for banks
Fraud Prevention Mechanism Provided
Manipulation of data and image during transit is prevented by digital signature / encryption.
CTS 2010 standards lead to enhanced security (Pl refer to attached NPCI circular for CTS 2010 standard) MICR reject repair flag
