Most banks have already stopped clearing non cts cheques since january 1, 2019. Bank customers do not need to discard their non cts 2010 standard cheque books in a hurry to get their multicity cts 2010 standard cheque leafs. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque. If you have ordered your cheque books recently, say, a month. Notice for customers cts2010 standards cheque book bank. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of 31 july 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc, rbi said. Cts is based on a cheque truncation or online imagebased cheque clearing system where cheque images and magnetic ink character recognition micr data are captured at the collecting bank branch and transmitted electronically. Cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commenced in 2010, for faster clearing of cheques. Nov 29, 2012 banks like icici bank and axis bank had already started issuing cts 2010 compliant cheque books since last year. Rbi is now moving towards accepting only cts2010 standards compliant cheques.
Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. Dec 17, 2018 cheque books not containing cts 2010 cheque leafs are called non cts cheque books. Cts is based on a cheque truncation or online imagebased cheque clearing system where cheque images and magnetic ink character recognition micr data are captured at the collecting bank branch and transmitted. Also already circulated cheques will be replaced within 31st december 2012. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012.
If your cheque book has been indented prior to 1st january 2012, you are requested to indent for new cheque book at the earliest to avoid any inconvenience. Rbi extended deadline for cts 2010 standard cheques. It has issued a public notice saying that starting january 1, 20, bank will not accept cheques that do not conform to the new standards. If you received your chequebook before august 2011, you are requested to order a new one. Rbi has issued a circular telling all banks that they should only process and accept those cheques which follow cts guidelines what is cheque truncation system or cts. Please note that non cts2010 standard cheques will not.
Rbi had asked banks to replace noncts 2010 compliant cheque books, but most banks are understood to be going slow. Coming back to cts 2010, i took the time off to get hold of the new cheque books from all my banks and thought that that was all there was to the imminent cutover to cts 2010. When john bosco was 9yearsold, he found he was dealing with boys who blasphemed by raising his voice and using his fists. From april 20, all banks have to ensure the withdrawal of non cts 2010 standard cheques.
Know your new cts2010 standard bank cheque format it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. Cts is based on a cheque truncation or online imagebased cheque clearing system where cheque images and magnetic ink character recognition micr data are captured at. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Does your software supports cts 2010 cheque formats. The time taken in clearance is less and the process is even costeffective. Cts holy week missal peoples edition catholic truth society. The reserve bank of india rbi has introduced a new format for cheques, the cts 2010 standard as part of its measures for standardization and enhancement of security features.
This requirement has come into effect from 01 april 2012 for northern and southern regions and for rest of the country from 30 september 2012. Go to your bank branch and request for a new cheque book or order one. Rbi has decided to launch this system and all banks across india are required to follow rbi guidelines in this regard. Many banks have still not asked their customers to surrender the noncts 2010 cheque books to reflect the change, a crosssection of bankers told. Many customers are yet to receive either individual intimation on the new. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts2010 are aimed at enhancing customer safety and facilitating easier.
Note that all new cheque books issued by indian banks compulsorily have to be cts2010 compliant, so if you issued a new chequebook recently, it should be compliant. Apr 29, 2014 many banks have still not asked their customers to surrender the noncts 2010 cheque books to reflect the change, a crosssection of bankers told this correspondent, adding the purpose of the. Cts2010 standard cheques will have letters cts2010 printed vertically on the cheque leaf near the perforation on the left side as shown in the image below. All customers who hold the earlier cheque books issued by the bank are requested to apply for a new cheque book as per the cts2010 standards at the earliest. Now rbi has extended the date to march 31st 20 to exchange your old cheque books with new cts2010 cheque books. Then he had a dream that stayed with him for the rest of. Come april 20 and your old cheque books from your bank account in india will become void.
Cheque books not containing cts 2010 cheque leafs are called non cts cheque books. Everything you need to know about cts 2010 cheques banking basics hdfc bank. If you have any old cheque books or leaves, get it exchanged with new cts2010. Banks may charge some fee for non cts cheques after march 31, 20.
This article on cts cheque 2010 is for increasing public awareness and a special information for indian residents regarding cts cheque. There is a new standard in banking called as cheque truncation system or cts 2010, which all the banks have to follow now. Rbi guidelines on cheque books compliant with cheque. If you are holding the non cts 2010 standard cheque books cheque leaves, you are requested to surrender the same at the base branch where you are having your account and apply for new cts 2010 standard cheque book. Every account holder must deposit their noncts cheques and cheque books in their respective branch and get new cheque leaves or books as per the new cts 2010 standard. Cts 2010 standards cheque s issued have the following distinguishing features. It might happen that your cheques start bouncing and do not get accepted from jan 1, 20. The reserve bank of india rbi has introduced a new format for cheques, the cts 2010 standard as part. Cts2010 cheques have certain common security features and standardised field placements for enabling image based processing of cheques through optical image character recognition technology, which are absent in noncts cheques. To change the cheque dimensions, you can click and drag the borders of the cheque.
However vta found that still many account holders have not exchanged their old cheque books with new cts 2010 complaint cheque books from their respective bank, moreover vta also observed that. Cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commenced in 2010, for faster. Private bankers such as icici bank and hdfc bank had started issuing cts2010 compliant cheque books since last year as also public bankers such as the state bank of india, allahabad bank and united bank of india. Punjab national bank this eliminates the cost of movement of physical cheques and reduces the time for clearance for better delivery of services to customers. Get ready to order new india cheque books times of. Sep 03, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Cts 2010 cheques have certain common security features and standardised field placements for enabling image based processing of cheques through optical image character recognition technology, which are absent in non cts cheques. If the cheque book is not with cts2010 cheque leafs, they are referred to as noncts cheque books.
Private bankers such as icici bank and hdfc bank had started issuing cts 2010 compliant cheque books since last year as also public bankers such as the state bank of india, allahabad bank and united bank of india. Mar 15, 20 rbi had asked banks to replace non cts 2010 compliant cheque books, but most banks are understood to be going slow. As per reserve bank of india rbi guidelines, cheque books being issued by banks need to be compliant with cheque truncation system cts2010 standards. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. The standardization of security features would act as a deterrent against frauds and enhance customer safety. According to banking experts, cts2010 cheques have certain common security features and standardised field. Just check, whether your existing cheque book is cts compliant or you need to get a new cts complaint cheque book issued before 31st december 2012.
Everything you need to know about cts 2010 cheques. However, the implementation of cts has been extended. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. Everything you need to know about cts 2010 cheques banking. If the letters cts2010 are present here, your cheque book is cts2010. If you are still in possession of nonctc cheque books, then it is in your own interest to get those replaced with cts2010 standard cheque. Cheque truncation system cts is a cheque clearing system undertaken by reserve bank of india rbi that aims at reducing the time involved in cheque clearing to one day. My cheque book is not cts 2010 compliant, what to do. Sbi is issuing new cheque books which conform to the standards of cts 2010 cheque truncation system to all its customers.
Thus, it is considered as the major landmark in the indian banking industry. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. So please verify whether cheque book you have a already cts 2010 before rushing to bank to get a new one. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Related news real estate in dire need of onetime loan restructuring. Banks, customers go slow in adopting new cheque book the hindu. Standard cheque books before 31st dec 2012 from 1st jan 20 banks will accept only cts 2010 standard cheques. Please note that non cts 2010 standard cheques will not be valid after december 31, 2012.
If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. From april 20, all banks have to ensure the withdrawal of noncts 2010 standard cheques. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Notice for customers cts2010 standards cheque book. Cts cheque 2010 is a image based cheque clearing system undertaken by public banks of many countries for faster clearing of cheques based on electronic data. If you received your chequebook before august 2011. However some of the features of cts cheques are cheque printer details. New cts cheque contains information of printer where they are printed along the words cts2010 mentioned along the area where we tear off the leaf from the cheque book. According to banking experts, cts 2010 cheques have certain common security features and standardised field. Cheque truncation system new benchmark for cheques in banks. According to banking experts, cts2010 cheques have certain common security features and sta.
A copy of cheque, cts 2010 compliant may please be used in explaining the requirements to be filled for the cheque leaves that can be used for transaction from january 01, 20 onwards. So, better not to waste much time and get your new cheque books soon from your bank. If you are still in use of nonctc cheque books, then it is in your own interest to get those replaced with cts2010 standard cheque books latest by december 31. The reserve bank of india rbi has introduced a new format for. Every account holder must deposit their non cts cheques and cheque books in their respective branch and get new cheque leaves or books as per the new cts 2010 standard. One can find this symbol where we write amount in figures. Note that rbi has directed all banks to issue cheque.
Please note, postdated cheques issued by you and due after 31st december, 2012, will need to be replaced by fresh cheques meeting the above mentioned guidelines. My cheque book is not cts2010 compliant, what to do. Punjab national bank in one of its advisories says. Dec 17, 2012 this would have rendered your old cheque leaves unusable you were required to surrender the old cheques and replace your old cheque books with new ones by then. Based on the 31 march deadlines, many vendors like ebay have already put up notices to only accept cts 2010 cheques, so get your new cheques before they start to bounce. Hence non cts 2010 standards cheque book must be surrendered immediately to the branch to get cts 2010 standards cheque book. The design of cts 2010 have some mandatory security features like the quality of paper, a cts india watermark, ultra violet logo of bank and void pantograph. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. Check your current cheque book is it valid new cts. Request through online banking phone banking numbers. Cts 2010 standard cheques will have letters cts 2010 printed vertically on the cheque leaf near the perforation on the left side as shown in the image below.
Noncts cheques may face further clearance delay from may 1. Get ready to order new india cheque books welcomenri. Only cts 2010 standard cheque books are to be used after 31. All customers who hold the earlier cheque books issued by the bank are requested to apply for a new cheque book as per the cts 2010 standards at the earliest.
Bank customers do not need to discard their noncts 2010 standard cheque books in a hurry to get their multicity cts2010 standard cheque leafs. Dec 19, 2018 cheque books not containing cts 2010 cheque leafs are called non cts cheque books. Does your software supports cts2010 cheque formats. As per reserve bank of india rbi guidelines, cheque books issued by. Cheque truncation system change looks good goodmoneying. Dec 31, 2012 come april 20 and your old cheque books from your bank account in india will become void. Vta demands gradual implementation of cts2010 cheques.
And if you hold any postdated cheques beyond 31st march you will have to arrange to get it replaced with a new cheque truncation system cheque. Watch the demo video to know why the new cts system speeds up. The word cts 2010 printed on the left side of your cheques near the perforation. According to banking experts, cts 2010 cheques have certain common security features and sta. The reserve bank of india rbi has introduced a new format for cheques, the cts2010 standard as part of its measures for standardization and enhancement of security features. If you are holding the non cts2010 standard cheque bookscheque leaves, you are requested to surrender the same at the base branch where you are having your account and apply for new cts2010 standard cheque book.
The rbi has extended the deadline for cheque truncation system cts to 1st april, 20. Sbi is issuing new cheque books which conform to the standards of cts2010 cheque truncation system to all its customers. We would like to inform you that we have been issuing cts2010 compliant cheque books since april 2011. Only cheque books issued after aug 2011 are cts 2010 compliant.
Dec 19, 2018 if you are still in use of nonctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. As per rbi guidelines, now all banks have to issue cheques conforming to the cts 2010 standards with uniform features. In line with this, banks have been asking their customers to contact their nearest branch to collect the new cts2010compliant cheque books. A copy of cheque, cts2010 compliant may please be used in explaining the requirements to be filled for the cheque leaves that can be used for transaction from january 01, 20 onwards. Coming back to cts2010, i took the time off to get hold of the new cheque books from all my banks and thought that that was all there was to the imminent cutover to cts2010. Banks, customers go slow in adopting new cheque book the. Noncts cheques may face further clearance delay from may. Only cts 2010 standard cheque books are to be used after. Mar 18, 20 note that all new cheque books issued by indian banks compulsorily have to be cts 2010 compliant, so if you issued a new chequebook recently, it should be compliant.
What is the format of cts2010 standard cheque book. Nov, 2012 if you have any old cheque books or leaves, get it exchanged with new cts2010. Cheque truncation system basically helps in faster clearance of the cheques in the banking records. Dec 16, 2012 cts 2010 compliant cheque will have the printer details along with the text cts 2010 printed on the extreme left hand of the cheque leaf.
The branch address should be printed on the left side top corner. First and foremost, many thanks goes to axis bank, india for providing helpful information. Based on the 31 march deadlines, many vendors like ebay have already put up notices to only accept cts2010 cheques, so get your new cheques before they start to bounce. All our customers are hereby informed to use cts2010 standards cheque books in order to get prompt clearance of cheques for all transactions. Cheque truncation system cts cheque printing software. You must obtain a cts2010 compliant cheque book on or before 31st march 20. So it is necessary for all to understand how your new cheque format looks like. The stronger security features in the cts2010 cheque makes it easy for the presenting banks to confirm the genuineness of the drawee banks instruments.
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