New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    What was the primary goal of the Reserve Bank of India's

    announcement regarding Continuous Clearing of Cheques under the Cheque Truncation System (CTS)?
    A Eliminate physical cheque processing Correct Answer Incorrect Answer
    B Reduce settlement risk and enhance customer experience Correct Answer Incorrect Answer
    C Introduce blockchain technology in cheque clearing Correct Answer Incorrect Answer
    D Integrate cheque clearing with UPI payments Correct Answer Incorrect Answer
    E Reduce cheque processing fees by 50% Correct Answer Incorrect Answer

    Solution

    The RBI's Continuous Clearing of Cheques under CTS aims to reduce settlement risk, improve efficiency, and enhance the customer experience by allowing cheques to be cleared within hours instead of the current two-day period.

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