P.C.D.A Dehradun
pcda dehradun

Cheque Truncation System

1. Introduction.

RBI is considering replacement of the existing system of settlement of payment on the basis of physical cheques by a new procedure called “ Cheque Truncation System” (CTS). It is an 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 eliminating the actual cheque movement.

2. Security.

CTS is protected by a comprehensive PKI-based security architecture which incorporates basic security and authentication controls such as dual access control, user ID and passwords with cryptobox and smart card interfaces.

3. Benefits.
4. Impact on Government Departments.
5. Implementation.