Cheque Truncation System

The above graph represents the total value of cheque transactions in India by month. Cheque Truncation System (also known as Image-based Clearing System (ICS)) is the process of stopping the physical movement of cheques, issued by a drawer to the drawee branch....

The above graph represents the total number of cheque transactions through CTS in India by month. India recorded about 89.67 million cheque-based transactions that cleared through CTS (Cheque Truncation System) in October 2019, as compared to 82.65 million transactions...