Benefits

Customer Service

• Extended cut off time for acceptance of Customer Cheques by banks
• Easy retrieval of information
• Reduced timelines for clearing

Operational Benefit

• MICR amount encoding not required
• Reconciliation difference eliminated – MICR and Image data travel together
• No cheques being lost/tampered/pilfered
• No risk of any manipulation of data and image during transit
• CTS 2010 standards leading to enhanced security and automation

Commercial Benefit

• Cost involved in paper movement eliminated
• Grid implementation allowing better liquidity management for banks

Fraud Prevention Mechanism Provided

• Manipulation of data and image during transit is prevented by digital signature / encryption.
• CTS 2010 standards lead to enhanced security (Pl refer to attached NPCI circular for CTS 2010 standard)
• MICR reject repair flag