“NCR Corporation (NYSE: NCR) and National Payments Corporation of India (NPCI) announced today the successful completion of the landmark Cheque Truncation System (CTS) project in India.
Started by the Reserve Bank of India, India’s Central Bank, in December 2007 to ease the process of cheque clearing in the country, this project changes the traditional physical movement of cheques to electronic clearing using NCR’s image-based software that is secure, fast and cost efficient.”
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