Whether the Cheque Truncation System - CTS - has legal sanction?
With amendments in the Sections 6 and 1 (4), coupled with the introduction of 81 A to the Negotiable Instruments Act, 1881, truncation of cheques is now legalized.
Need for any further clarifications, who can be approached for guidance ?
For any further clarifications the Contact Persons are –
The General Manager, National Clearing Cell,
Reserve Bank of India, 7th Floor, Tower 1, Jeevan Bharati Building, Connaught Place, New Delhi – 110 001.
The Chief Executive Officer, National Payment Corporation of India,
C-9,8th Floor, RBI Premises, Bandra-Kurla Complex, Bandra (East), Mumbai-400 051,
Src: Reserve Bank of India.
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