Banking operations of the state bank of india sbi and its associate state bank of travancore sbt are set to become faster and more efficient with the migration to the cheque truncation system cts. Overall, checking with the following word counts and titles 1. Feb 07, 2020 cheque truncation speeds up the process of collection of cheques resulting in better service to customers, reduces the scope of loss of instruments in transit, lowers the cost of collection of cheques and removes reconciliationrelated and logisticsrelated problems, thus benefitting the system as a whole, says the central bank. The following day, i withdraw cash to pay for kids school transport, municipality bills, groceries and pay more fees, says howard, who says his bank fees were around r300 per month.
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