Current Affairs · Banking Reforms
In August 2024, which of the following statements about RBI's plan for Continuous Clearing and Settlement Realisation in Cheque Truncation System (CTS) is/are correct? 1. The Cheque Truncation System will transition from a clearing cycle of up to two working days to continuous clearing with on-realisation settlement. 2. Phase-I implementation is scheduled for January 3, 2026. 3. This mechanism aims to enhance efficiency, reduce settlement risk, and improve customer experience.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both 2 and 3
- 2Only 3
- 3Both 1 and 3✓
- 4Only 1
Correct answer
Both 1 and 3
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