...........A scanner that can scan a lot of 150 cheques will cost around Rs 1.50 lakh. A leading nationalised bank plans to buy around 500 such scanners for its branches in the South, said an official of the bank, who did not want to be named. “It is going to cost a huge amount for us. We need to rely only on global companies, as the demand for such scanners has just started for an Indian company to set up its manufacturing here,” he said. The Reserve Bank of India had asked banks to replace the existing bank cheques to CTS. This means, the collecting bank (presenting bank) sends the encrypted data and captured images of signed cheques to the central processing location (clearing house) for onward transmission to the paying bank (destination or drawee bank)...........
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