Speed clearing and Express Cheque Clearing system (ECCS), initiatives at clearing houses have further enhanced the efficiency of the cheque clearing operations in the country. The implementation of Cheque Truncation system is a continuation of this effort. CTS has now been implemented in New Delhi and Chennai.
Grid based CTS when rolled out completely will centralise the entire cheque clearing in the country in 4–6 grids. Focus on retail electronic payments has been an ongoing endeavour of the Reserve Bank since the mid 90’s.