Banking · Cheque Truncation System
In the Cheque Truncation System (CTS), which of the following best describes the primary function of the Clearing House Interface (CHI) during outward clearing?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Acting as a backup server that activates only during Core Banking Solution (CBS) outages.
- 2Manual entry of details for cheques rejected by the high-speed scanner.
- 3Digitally signing cheque images and data, and transmitting encrypted packets securely to the Clearing House.✓
- 4Physical sorting of cheques based on the MICR code prior to electronic scanning.
Correct answer
Digitally signing cheque images and data, and transmitting encrypted packets securely to the Clearing House.
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