What does the letter T stand for in CTS in a new cheque system ........

General Awareness : Finance Banking Awareness

What does the letter T stand for in CTS in a new cheque system?

This questions was previously asked in

RBI Grade B (16 August 2018)

Transaction

Target

Tertiary

Truncation

Teller

- Option 1: Transaction

Generally refers to the action of conducting business or making an exchange. Not relevant to CTS.

- Option 2: Target

Aiming to achieve a goal or reaching a specific objective. Not the definition for the T in CTS.

- Option 3: Tertiary

Means third in order or level. Not applicable to the context of CTS.

- Option 4: Truncation

The correct answer. "Truncation" refers to the process of converting physical cheques into electronic form for better processing.

- Option 5: Teller

Generally refers to a bank employee who manages customer transactions. Not relevant here.

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