Banking · Cheque Truncation System (CTS)
Regarding the Cheque Truncation System (CTS) operating through regional grids in India, consider the following statements: Statement I: In the grid-based system, a cheque drawn on a branch in Ahmedabad and presented at a branch in Mumbai is treated as 'Local Clearing' because both cities fall under the Western Grid. Statement II: The 'Presentation Clearing' session is the first stage where the presenting bank uploads data to the Clearing House Interface (CHI) for validation. Statement III: Under CTS guidelines, the physical cheque must always be moved to the Drawee Bank if the amount exceeds fifty lakh rupees. Which of the above statements are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1All I, II and III are correct
- 2Only I and III
- 3Only II and III
- 4Only I and II✓
Correct answer
Only I and II
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Banking?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Cheque Truncation System (CTS) MCQs →Want more practice questions on Cheque Truncation System (CTS)?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Banking · Cheque Truncation System (CTS)