CTS Service

CTS (Cheque Truncation System) is an electronic cheque clearing system that facilitates faster and more secure cheque processing. It eliminates the physical movement of cheques by transmitting an electronic image of the cheque along with key information.

Based on publicly available information, Universal Co-Operative Urban Bank Ltd. is a participant in the CTS system. This allows the bank to offer its customers the following benefits:

• Faster Clearing: Cheques are cleared much quicker than in the traditional physical clearing system.
• Enhanced Security: The CTS system reduces the risk of fraud and theft associated with the physical movement of cheques.
• Wider Reach: It enables clearing of cheques across a wider geographical area.
• Efficiency: The system is more efficient and reduces the time and effort involved in cheque processing.

This service is a standard offering for modern banks in India to provide efficient and secure banking services to their customers.