Which of the following statements about RBI’s Continuous Clearing of Cheques is/are correct?
- The Cheque Truncation System (CTS) is moving toward continuous clearing.
- The current cycle processes cheques within two working days.
- The continuous clearing will reduce the settlement cycle from T+2 to a few hours.
1
Only 1
2
Only 1 and 2
3
Only 2 and 3
4
Only 1 and 3
5
All 1, 2, and 3