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    Question

    Under Phase 2 of the revised CTS process, if a cheque is

    presented between 10:00–11:00 AM , by when must the drawee bank confirm honour/dishonour before it is deemed approved? Β 
    A By 11:30 AM Correct Answer Incorrect Answer
    B By 12:00 Noon Correct Answer Incorrect Answer
    C By 1:00 PM Correct Answer Incorrect Answer
    D By 2:00 PM Correct Answer Incorrect Answer
    E By 4:00 PM Correct Answer Incorrect Answer

    Solution

    Explanation: Phase 2 mandates that confirmation must be sent within 3 clear hours after the end of the hour of receipt. Thus, for a cheque presented during 10–11 AM , confirmation is due by 2 PM ; else it is deemed approved at that slot.

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