How Rbi Is Proposing To Implement Cheque Truncation?

1.	How Rbi Is Proposing To Implement Cheque Truncation?
Answer» RBI is proposing to implement the project on a PILOT basis in the National Capital Region (NCR), NEW Delhi. Based on the EXPERIENCED gathered, it would consider extending the coverage to other centres. In the process of implementation, banks have been given the freedom to DECIDE the point of truncation. RBI would be installing an interface with its system (CHI) at the service branches of banks, who are members of New-Delhi Bankers Clearing House. Banks have to decide the point of truncation and have to ensure that the images are DIGITALLY signed after their capture. It would flow thereafter to the interface (CHI) provided by RBI, from where the images would flow to the clearing House with the DIGITAL signatures of the banks. These digitally signed images would reach the service branches of the drawee branches clearing house interface. The service branches have to ensure that these images are moved across their branches to ensure their processing.

Answer»

RBI is proposing to implement the project on a PILOT basis in the National Capital Region (NCR), NEW Delhi. Based on the EXPERIENCED gathered, it would consider extending the coverage to other centres.
In the process of implementation, banks have been given the freedom to DECIDE the point of truncation. RBI would be installing an interface with its system (CHI) at the service branches of banks, who are members of New-Delhi Bankers Clearing House. Banks have to decide the point of truncation and have to ensure that the images are DIGITALLY signed after their capture.
It would flow thereafter to the interface (CHI) provided by RBI, from where the images would flow to the clearing House with the DIGITAL signatures of the banks. These digitally signed images would reach the service branches of the drawee branches clearing house interface. The service branches have to ensure that these images are moved across their branches to ensure their processing.

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