Punjab National Bank CTS

Hello sir, I am Manav. I want you to help me by giving me some information about the Punjab national bank Cheque Truncation System (CTS). Can you help me?

[Kiran Chandar]

As you have asked about the Punjab national bank Cheque Truncation System (CTS), I am giving you information about it, check below for the details

Under ‘Cheque Truncation System(CTS)’ instead of presenting cheque in physical form, image of cheque is presented to the paying banker.
The original cheque remains in the custody of the Collecting Bank.
To guard against fraudulent activities and also to facilitate smooth functioning of the clearing in CTS environment, uniformity in the size, design and the security features on the cheque issued by all banks to their customers has been brought in.
These cheques are called as ‘CTS-2010 Standard Cheques’.

Bank is making efforts to withdraw the Non-CTS cheques in circulation.
However, Non-CTS-2010 format cheques are still presented in image-based clearing.
In view of this, RBI has decided to put in place the separate clearing session for clearing of these cheques in CTS Centres.
This separate clearing session will operate once a week.

It offers following banking products:
Credit cards,
Consumer banking,
Corporate banking,
Finance and insurance,
Investment banking,
Mortgage loans,
Private banking,
Private equity,
Wealth management