The Reserve Bank today directed banks to adopt a uniform holidays calender to streamline cheque clearing system forCheque Truncation System (CTS) centres in New Delhi, Chennai and Mumbai."The CTS centres in New Delhi, Chennai and Mumbai will adopt RTGS holidays as uniform holidays for the respective grid," RBI said in its directive.
The CTS based cheque clearing system ensures uniformity across all cheque forms issued by banks in the country.Grid-based CTS has been in place in Chennai and Mumbai covering several states and union territories.While, in New Delhi it is already in place since 2010 that encompasses CTS cheque clearing in the national capital and adjacent states.
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