“Cheque Truncation System (CTS)” has been introduced in cheque clearing since July 2008 in New Delhi. The coverage of Electronic Clearing System (ECS) has been increased to 75 centres and 89 banks with 55, 225 branches are participating in National Electronic Funds Transfer (NEFT) system.
In terms of payment systems growth, the Real Time Gross Settlement System (RTGS) volume has gone up from a modest 17.67 lakh in 2005-06 to 133.6 lakh in 2008-09, and the value has gone up from Rs.1,15,40,836 crore to Rs. 3,22,79,881 crore in the corresponding period.