LET’S DEFINE CTS  Cheque Truncation System (CTS) is a method of clearing checks electronically rather than physically processing the cheque as it travels to the paying bank branch. The Reserve Bank of India (RBI) has taken this move to expedite cheque clearing. CTS came to action in New Delhi, Chennai, and Mumbai on February 1, 2008, September 24, 2011, and April 27, 2013, respectively. The old MICR-based check processing has been halted across the country following the transfer of the entire cheque volume from the MICR system to the CTS.  HOW DOES CTS WORK? Cheques collection: Chequ ..read more

Introduction The investment banking industry is one of the booming industries in the world. Being an investment banker is surely a promising career in the present times. The reason being this profile has a very important role to play in businesses, including but not limited to advising firms on mergers and acquisitions and fundraising activities.  In other words, an investment banker is a kind of broker who is responsible for facilitating such transactions, along with connecting investors with companies. However, to become one is not an easy path for sure as not only one needs to opt for ..read more