For example, the transition from U.S. dollar LIBOR to an alternative risk-free rate would be necessary in cases where the U.S. dollar is funded via cross-currency swaps. Accordingly, the other leg of the swap could also be affected.
•  Cheque Truncation System (CTS) – It has been rolled out successfully in three grid locations across the country covering over 85% of cheque volume processed. NPCI has now begun to facilitate the repository of images of cheques processed in CTS.