| |
|
|
|
|
| |
| Dear Customer, |
|
| The Cheque Truncation System (CTS) facilitates image-based processing and clearing of cheques between banks. As per the recent mandate from Reserve Bank of India (RBI), the CTS system is being expanded in a phased manner to South India. Accordingly, Chennai, Bengaluru, Coimbatore, Thiruvananthapuram, Kochi and Hyderabad are on the CTS. |
|
| Outstation cheques deposited and payable at any of the cities in South India viz. Chennai, Bengaluru, Coimbatore, Kochi, Thiruvananthapuram and Hyderabad , will now get presented as local clearing cheques through CTS, resulting in faster cheque realisation. |
|
| As part of the CTS rollout, the processing of cheques is expected to be conducted at a central location. i.e. Chennai. As a result, there can be instances wherein, a cheque issued by you a day before a local holiday in your city, will be debited to your account on a local holiday because the central processing location will be working. |
|
| Please ensure that you maintain adequate balance in the account prior to the issue of cheque to avoid cheque return for insufficient funds. |
|
| Regards, |
|
| HSBC India |
|
|
|
|
| |
|
|
|
|
|
