Welcome to The Malegaon Merchants Co-op. Bank Ltd.,Malegaon
The Malegaon Merchants Co-op. Bank Ltd.,Malegaon
Reg. No.: NSK/BNK/101 Date 30/03/1962
Reserve Bank License No.: UBD/MH/930 P.Date. 30/11/1987

CTS Clearing

(CTS) Cheque Truncation System

Cheque Truncation System (CTS) ensures faster, more secure, and reliable cheque clearing with enhanced security and reduced timelines.

Important NOTE: As per RBI, continuous Clearing has been started from 04/10/2025 & cheque will clear on same day. To avoid return of cheques keep sufficient balance in your account.

Key Features

  • Extended cut-off time for acceptance of customer cheques
  • Easy retrieval of information
  • Reduced timelines for cheque clearing

Operational Benefits

  • MICR amount encoding not required
  • Reconciliation difference eliminated (MICR & Image data travel together)
  • No risk of cheques being lost, tampered, or pilfered
  • No manipulation of data/image during transit
  • CTS 2010 standards ensure enhanced security & automation

Commercial Benefits

  • Elimination of costs involved in physical paper movement
  • Grid implementation allows better liquidity management for banks

Fraud Prevention Mechanism

  • Data & image manipulation prevented with digital signature / encryption
  • CTS 2010 standards ensure enhanced security (as per NPCI circular)
  • MICR reject repair flag enabled