Cheque Imaging and Truncation System (CITS):

Cheque Truncation is a system of cheque clearing and settlement between banks based on electronic data or image or both without physical exchange of instrument. It is a paperless electronic image based cheque clearing solution. In this new system physical presentation of cheque is avoided to drawee banks thereby clearing and settlement process will be improve tremendously. Bank will provide data and both side image of a cheque using a software system as per guideline of Bangladesh Bank.