SL Rupee Cheque Clearing / Overview
The Payment & Settlement System Act No. 28 of 2005 has laid down the procedure for the payment of cheques electronically presented. Cheque Imaging & Truncation System (CITS) is an image-based cheque clearing system, which replaced the physical cheque with electronic information, flowing throughout the clearing cycle. This process eliminated the actual cheque movement in cheque clearing and reduced the delays associated with the physical movement of cheques.

CIT system is designed to accept physical cheques or images and MICR data of physical cheques either submitted on CD-ROMs or by direct electronic transfer. Banks generate images of cheques for outward delivery and submit cheque data and images on CD-ROM. As such, the physical movement of cheques is truncated at the point of image capture and hence, the paying Bank will NOT receive a physical cheque during the entire clearing process.

Quick Facts
    Useful tips when writing Cheques
    • Always write legibly or print your cheques on a cheque writer to prevent unauthorized alterations.
    • Write the amount cheque in figures as close as possible to the ‘Rs’ sign
    • It is a good practice to include the word ‘’only’’ after the amount in words.
    • Draw a line through all unused space after the payee’s name, the amount in words and figures.
    • Ensure that you write the name of the payee clearly and correctly as close as possible to the word ‘pay’.
    • If you are drawing a cheque payable to bank, always make sure that you provide sufficient details of the payee.(Eg : Sampath Card Center , Card no xxxx,xxxx,xxxx,xxxx)
    • If you want to make an amendment do so by crossing through the error and thereafter an indicate it by placing your signature.
    • Never sign blank cheques.
    • Report any misuse of cheques to your bank immediately. Use cheque book counterfoils to record details of cheques issued.
    • Keep your cheque book in a safe place and do not keep a specimen of your signature with it.
    • Keep the cheques clean and tidy to ensure the smooth processing a cheque clearing. Do not write anything on the lower part of the cheque to word covering MICR font.