All banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. At present, when you issue a cheque to someone, he has deposit the cheque in his bank to get credit. Check your current cheque book is it valid new cts. We are arranging to send these new series cheque books to our valued customers at their last. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf.
If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Will my old cheques that are not cts2010 still work. Axis bank has started issuance of cts 2010 cheque book post august 2011. New format cheques from jan 1 the hindu businessline. How is cts 2010 will be different from earlier system of cheque clearance.
In an official notice on its website, hdfc bank says separate sessions for clearing of noncts cheque will be discontinued from december 31. As per rbi directives, periodicity for processing noncts cheques in. We are pleased to advise that standard chartered bank has been issuing cts2010 standard compliant cheque books to our customers since april, 2011. Only mcc cts 2010 standard cheques are issued now and no other variant can be used. Hsbc has been issuing payable at par with cts2010 standard compliant cheque books since march 2012. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010.
Since then, the deadline for replacing non cts cheques with cts compliant cheques had been revised many times. The cut off date for accepting non cts cheques has been extended till 31st july 20. Please identify if your existing citibank account cheque book is cts2010 compliant. Dec 03, 20 identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required also, please note that rbi has advised all banks holding postdated emi cheques to arrange for replacement of noncts2010 standard cheques with cts2010 standard cheques. In case non cts 2010 standard cheque forms were issued as post dated cheques pdcs or undated cheques udcs to any counterparty for any reason, these would need to be replaced with cts 2010 standard compliant cheques. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t.
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. In case if your cts 2010 cheque book, you must obtain a new cts complied cheque book, and surrender the non compliant one to the bank. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. My cheque book is not cts2010 compliant, what to do. Jan 12, 20 8 boxes to write the date in ddmmyyy format. As per reserve bank of india rbi guidelines, cheque books issued by banks need to be compliant with the cheque. If your cheque placement does not look like the one in the image above and does not have cts2010 printed on it, you must do new cheque book requests from your bank quickly. In case your cheque book is not cts2010 compliant, please order a new one. As per rbi guidelines, after march 31, 20, noncts2010 standard compliant cheques will still be accepted for clearing but will be cleared at less frequent intervals. Incase the cheque book you currently have is not cts2010 compliant as per the above features we request you to immediately order a new cheque book. As per rbi guidelines, after july 31, 20, noncts2010 standard compliant cheques will still be accepted for clearing but will be cleared at less frequent intervals. Standardization and enhancement of security features in.
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. Still using nonctc compliant cheques for making payments and. As per guidelines, non cts2010 cheques issued by bank in india will be. Important message cts 2010 regulation applicable to cts. All compliant cheques will have cts 2010 printed on the left side of each cheque leaf. Important notification regarding cts2010 standard cheques. Go to your bank branch and request for a new cheque book or order one. Cts 2010 standard cheques will be cleared on all working days. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. If the above letters are present, your cheque book is cts2010 compliant 5. Come april 20 and your old cheque books from your bank account in india will become void.
All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque truncation system cts centres for another four months up. Starting 1 august 20 only cts2010 compliant cheques would be accepted for. In case if your cts 2010 cheque book, you must obtain a new cts complied cheque book, and surrender the noncompliant one to the bank. All residual noncts2010 cheques with customers will continue to be. As per rbi guidelines, only cts 2010 standard cheque books are to be used after 31 december 2012. Identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required also, please note that rbi has advised all banks holding postdated emi cheques to arrange for replacement of noncts2010 standard cheques with cts2010 standard cheques. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. You must obtain a cts 2010 compliant cheque book on or before 31st march 20.
Also already circulated cheques will be replaced within 31st december 2012. Therefore, we recommend you to replace your noncts2010 cheque book with a new cheque book at the earliest. Sms chqbook xxxx to 52484 from your registered mobile number with citibank, where xxxx refers to the last 4 digits of your citibank atm debit card. Also all the current circulated cheques will be replaced within 31st march, 20. This is how a standard cts2010 complaint cheque looks like. Get your non cts cheque book replaced immediately, it said. Nov 29, 2012 please note that as per rbi guidelines, non cts2010 cheques should be withdrawn before december 31, 2012. Features of cts2010 standard chequects cheque truncation. As per rbi guidelines, noncts2010 standard compliant cheques will be accepted for clearing up to july 31, 20. If you have availed a home or auto loan and issued postdated.
More than 60 per cent of bank account holders are, however, not aware. Please note that when you receive or issue a cheque, if. What is the format of cts2010 standard cheque book. No clearance of noncts compliant cheques from january 2019. The benchmark prescriptions are collectively known as cts2010 standard. If you have ordered your cheque books recently, say, a month. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Get your noncts cheque book replaced immediately, it said. The reserve bank of india rbi has introduced a new format for cheques, the cts 2010 standard as part. Only cts 2010 standard cheque books are to be used after 31. Important message cts 2010 regulation applicable to. No clearance of noncts compliant cheques from january. Rbi guidelines on cheque books compliant with cheque.
Otherwise, cts 2010compliant cheques are designed uniformly in terms. Everything you need to know about cts 2010 cheques banking. Noncts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. 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. As per the said new rbi guidelines, banks have been advised to issue only cts 2010 standard multicitypayable at par cheques to their account holders. Identify whether your existing citibank account cheque book is cts2010 compliant request for a new cheque book, if required. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant.
Sep 03, 2012 as per the latest news, the mandatory date has been extended to 31 march 2012. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. The guidelines for cts 2010 standard cheques were issued way back in 2010. However, most banks started issuing cts cheque books from midseptember. Sep 06, 2018 non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. Post dated cheques issued by you and due after 31st march 20, needs to replace by cts 2010 compliant cheques. 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. Only cts 2010 standard cheque books are to be used after. For instance, if you have received a cheque on december 1 that does not conform to cts 2010, you should not delay its encashment. Mar 18, 20 cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of july 31, 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc.
Under the cts system, the physical movement of cheques between banks will be elminated. Only cheque books issued after aug 2011 are cts 2010 compliant. The word cts2010 must be printed on the left hand side of the cheque near perforation. To meet the objective, sbi has asked all its branches to issue only with uniform features conforming to cts 2010 standard cheques to their customers. As per rbi guidelines, now all banks have to issue cheques conforming to the cts 2010 standards with uniform features. As rbi is moving towards accepting only cts 2010 compliant cheques, noncts cheques should not be used post 31st march, 20. 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 books latest by december. The benchmark prescriptions are collectively known as cts 2010 standard. Cts 2010 standards cheque s issued have the following distinguishing features. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. Dec 31, 2012 come april 20 and your old cheque books from your bank account in india will become void. Dec 19, 2018 so, better hurry up if you havent got your old cheque books replaced with cts2010 standard cheque books. The branch address and ifsc code should be on the top left side of the cheque 2.
My cheque book is not cts 2010 compliant, what to do. The cheque truncation system cts is a process of stopping flow of physical cheque in which an electronic image of the instrument is presented when it comes. As per our earlier communication to you, cheque books issued prior to july 2011 arenot cts2010 compliant and wont be valid henceforth. Mar 18, 20 this is how a standard cts 2010 complaint cheque looks like. Dec 03, 2012 this tip is mainly for procrastinators. As per the guidelines issued by reserve bank of india rbi, cheques books issued by the bank needs to be compliant with cheque truncation system cts 2010 standards. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. 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. 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. Today we have prepared a short note on cts2010 standard. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31july20. 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. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. It is very important for banking po and clerical exams and interviews.
All customers who hold a cheque book issued by the bank prior to 31 march 2012, are requested to apply for a new cheque book as per the cts2010 standard at. Hsbc has been issuing payable at par with cts 2010 standard compliant cheque books since march 2012. All compliant cheques will have cts2010 printed on the left side of each cheque leaf. The payee can present the cheque for the amount which is within the ceiling printed on the face of the cheque, directly at any of our branches or in clearing. So it is necessary for all to understand how your new cheque format looks like. Truncation is the process in which an issued cheque is not moved physically from the drawer bank branch to the drawee bank branch. Please note, from 1st january 2014, non cts 2010 standard cheques will be cleared only thrice a week monday, wednesday and friday. You must obtain a cts2010 compliant cheque book on or before 31st march 20.
Sbi to accept cheques conforming to new standards from jan 1. As per the latest news, the mandatory date has been extended to 31 march 2012. Important notification regarding cts2010 standard cheques dear customers, if you are currently using cheque books issued to you by rblbank before july 2011, please apply for a new cheque book urgently. Secondly, do you have any knowledge that the leading private banks like axis, hdfc, icici, etc have been issuing such cts 2010 compliant cheque books since 2010. If you received your chequebook before august 2011, you are requested to order a new one. Number of accounts to which cts2010 standard instruments are yet to be issued. And you must do it latest by december 31, 2018, if you dont want your cheques to. Please surrender your unused non cts cheques at your branch and obtain new cts 2010 standard cheque book. 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. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. Get ready to order new india cheque books times of india. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. You can use any of the below options to reorder a new cheque book. So, better hurry up if you havent got your old cheque books replaced with cts2010 standard cheque books.
All banks providing cheque facility to their customers have been advised to issue only cts2010 standard cheques. 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. In case you hold cheque books prior to august 2011, immediately replace them with cts 2010 compliant cheque books from your own branch. Nov 23, 2012 since rbi is now moving towards accepting only cts 2010 standard compliant cheques, please note that the old noncts 2010 standard cheque forms should not be used post 31 december 2012. Please note that as per rbi guidelines, non cts2010 cheques should be withdrawn before december 31, 2012. Briefly describe the efforts taken by the bank to replace the noncts2010 standard cheques with the cts2010 standard compliant cheques. Get ready to order new india cheque books times of. Sbi to send new cheque books by dec 15, update your address.
Effective december 31st, 2012 usage of non cts 2010 standard cheques would not be applicable with regard to your investments. Accordingly, mcc payable at par, cts 2010 standard compliant cheques are being issued by the bank. The lender is preparing to send the new series of cts compliant cheque books by december 15, 2012. Punjab national bank pnb has asked its customers to get their noncts compliant cheques replaced as these instruments will not be accepted for clearance in the banking system from january. You need to apply in your bank for the same and it is available free of cost. Cheque books not containing cts2010 cheque leafs are called noncts cheque books. Cheques not complying with cts2010 standards will be cleared at less frequent intervals i. In case noncts 2010 standard cheque forms were issued as post dated cheques pdcs or undated cheques udcs to any counterparty for any reason, these would need to be replaced with cts2010 standard compliant cheques. Watch the demo video to know why the new cts system speeds up cheque clearing times for you, and how to identify a cts compliant cheque. 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. According to banking experts, cts2010 cheques have certain common security features and standardised field. Cts 2010 new cheque truncation system wef 1st april 20. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. As per rbi mandate, the same old format cheques are to be accepted till december 31, 2012.
If you received your chequebook before august 2011. Identify whether your existing citibank account cheque book is cts2010 compliant. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. However, it is now unlikely that the rbi will go beyond january 2019 deadline. Go to your bank branch and request for a new cheque book or order one online. The step has been taken as per the direction of the reserve bank of india. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Sbi to accept cheques conforming to new standards from jan. If your cheque placement does not look like the one in the image above and does not have cts 2010 printed on it, you must do new cheque book requests from your bank quickly.
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