The CTS (Cheque Truncation System) Continuous Clearing at Nagarik Sahakari Bank Ltd. Bhiwandi is a modern, image-based cheque-clearing process. Unlike the old system where physical cheques had to travel between banks, this facility uses digital images to clear funds in a matter of hours.
As of January 2026, following the latest RBI mandates, the bank has transitioned from "batch processing" to "Continuous Clearing" (also known as On-Realisation-Settlement).
Key Features
► Same-Day Clearance: Cheques presented between 10:00 AM and 4:00 PM are now cleared or returned within a window of just 3 hours. This makes cheque clearing almost as fast as NEFT/RTGS.
► Digital Transmission: The physical cheque is "truncated" (stopped) at the Bhiwandi branch. Only the encrypted digital image and MICR data are sent to the clearing house.
► Enhanced Security: The system uses Public Key Infrastructure (PKI) and digital signatures. This ensures the cheque image cannot be tampered with during transit.
► Positive Pay System (PPS): For high-value cheques (typically above ₹5,00,000), the bank requires customers to pre-confirm details (Cheque No., Amount, Payee Name) via the mobile app or branch to prevent fraud.
► Standardized Cheques: Only CTS-2010 standard cheques (which feature a watermark, "CTS-2010" vertical text, and invisible ink bank logos) are accepted for this fast clearing.
