Expected Questions on Cheque Truncation System

Hello and welcome to exampundit. Today we are sharing Important Expected Questions on Cheque Truncation System. Cheque Truncation System or CTS is one of the most important Banking Product and Banking Awareness Topic.

Expected Questions on Cheque Truncation System

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1. What does CTS stands for? – Cheque Truncation System
2. Cheque Truncation System started in which year? – 2008
3. Which standard is followed for Cheque clearance in India? – CTS 2010
4. Who has developed Cheque Truncation System? – National Payments Corporation of India
5. What does MICR stands for? – Magnetic Ink Character Recognition
6. How long is an MICR code? – 9 Digit
7. What does the first 3 characters stand for in MICR code? – City
8. What does the 4^th, 5^th & 6^th character represent in MICR Code? – Bank Name
9. What does the last 3 character represent in MICR Code? – Branch Name
10. CTS was first implemented on a pilot basis in ______. – New Delhi
11. What does PKI stands for in context to Cheque Truncation System? – Public Key Infrastructure
12. Who manages the Clearing House for Cheque Truncation System? – Reserve Bank of India
13. Who acts as Cheque Processing Center for Cheque Truncation System? – National Payments Corporation of India
14. How many grids are there for Cheque Truncation System? – 3 (New Delhi, Chennai, Mumbai)

 

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