CTS, as many of you know, is an image based cheque clearing system obviating the need for physical movement of cheques. A further technological improvement of the regular CTS environment is the grid  2  BIS central bankers’ speeches  based CTS.
The grid based CTS encompasses multiple clearing locations spread across several states facilitating the processing and clearing of cheques of all the banks under that particular grid. The National Payments Corporation of India (NPCI), the umbrella retail payments organization set up by banks, has since operationalized a grid based CTS in Chennai in 2011. Electronic payment systems 16.