It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Procedural guidelines for cheque truncation system cts. Dec 14, 2012 the introduction of new cheque standards cts 2010 was warranted on account of several developments in the cheque clearing namely growing use of multicity and payableatpar cheques at any. New chequebooks can be indented through netbanking, mobilebanking. Noncts cheques may face further clearance delay from may. Non cts compliant cheques cheques not compliant to the cheque truncation systemcts 2010 standards will be cleared thrice a week only, until 30 april, 2014. As per rbi guidelines, now all banks have to issue cheques conforming to the cts 2010 standards with uniform features. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010.
From january 1, it will be mandatory to use only new cheque leaves that are compliant. Banks would do better if they display new cheque format in their branch. The introduction of new cheque standards cts 2010 was warranted on account of several developments in the cheque clearing namely growing use of multicity and payableatpar cheques at any. As per the guidelines the new cheques need to have. If you have availed a home or auto loan and issued postdated. Mar 20, 20 non cts cheques valid till 31 july rbi the rbi has also said the system of post dated cheques and payment via emi, in either the old or new format, will be banned from now wherever electronic. Therefore, we recommend you to replace your noncts2010 cheque book with a new cheque book at the earliest.
The main feature of cts2010 cheques is that a cheque can be cleared electronically. But there is still a large volume of noncts2010 format cheques being presented in imagebaseda clearing. 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. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook.
Here it seems you are asking about a cheque which is signed but not dated and no other details are filled in. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. So, the validity of non cts cheques is again extended, this time upto 30th april 2014. Banks have now been asked to ensure all cheques are compliant with cts 2010 standards by april 1, 20. Rbi extends deadline for noncts cheques till july 31 india. The rbi asked banks to issue new cheque books only under the new. But due to unawareness in customers, around 50% do not surrender the old cheque book. Apr 29, 2014 if your cheques are not cts 2010 complaint, there can realisation delays, as they will be cleared at less frequent intervals. Mr,x having non cts cheque now he is blackmailing more money after paid more also. I have 500 cheques to get printed, how fast the printing will be. Refer to section 6 of negotiable instruments act and s. Rbi extends deadline for issuance of new standard cheques by. Nov 16, 2017 request new cheque book by december 31, 2017 account holders of the erstwhile associate banks can now apply for new cheque books till december 31, 2017, which in effect means that the old cheque. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image.
Reserve bank of india has prescribed certain benchmarks towards achieving standaridization of cheques viz. Rbi extends deadline for withdrawing noncts 2010 cheques. Important message cts 2010 regulation applicable to cts. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01.
Nov 29, 2012 identify whether your existing citibank account cheque book is 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. Cheque truncation system cts cheque printing software. Standardization and enhancement of security features in cheque formscts2010 standard reg. The reserve bank of india has extended validity of old cheque book non cts2010 standard up to july 31, 20. Cts 2010 standard cheques will be cleared on all working days. New format cheques from jan 1 the hindu businessline. Now, old cheque is valid up to july 31 goodreturns. Old cheque book validity extended up to 31 march 20. The rbi has extended the deadline of march 31 till july 31 for issuance of new cts cheque books books and withdrawal of all old format cheques, says a. Cts2010 standard cheques free book on indian stock market. When a customer deposits a cts2010complied cheque, the bank can simply send the cheque s image to the drawee bank.
If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Please note that when you receive or issue a cheque, if. The clearing timings of noncts session are covered in annex xb 1. The reserve bank of india rbi has extended the deadline for implementing the cheque truncation system2010 cts 2010 by another three months. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. Mar 19, 20 the directions are part of the central banks latest directive on cheque truncation which extend the validity of cheques issued in the old format until july 31, 20. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Noncts cheques may face further clearance delay from may 1. The deadline for the withdrawal of noncts2010 standard cheques is july 31, 20 and banks have begun to issue fresh cheques in the cts2010 complaint format. Rbi extends deadline for withdrawing noncts 2010 cheques by. Under the banking tab, click on the link other banking services. This means your cheque will not travel physically from one location to another, but an electronic image will be transferred for the bank where the cheque is deposited to the drawee bank.
So it is necessary for all to understand how your new. Identify whether your existing citibank account cheque book is 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. Banks logo and details on the left hand side corner. 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. Important message cts 2010 regulation applicable to. In december, the rbi had extended the deadline to convert to the new standard cts2010 by three months to 31 st march, based on the representations from stakeholders. So it is necessary for all to understand how your new cheque format looks like. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. Also already circulated cheques will be replaced within 31st december 2012. Cheques printed from chequeman are 100% cts complaint. With banks continuing to accept old format cheques, customers who are. According to new guidelines provided by rbi reserve bank of india all indian banks should follow cts2010 cheque formats, and virtual splat has already taken care about this rule. Also all the current circulated cheques will be replaced within 31st march, 20.
Old cheques validity is extended to 31 july 20 taxalertindia. Sbi customers can deposit their non cts cheque in their respective branch and get free new cts 2010 standard chequebook. Rbi extends deadline for noncts cheques till july 31. The rbi has extended the deadline of march 31 till july 31 for issuance of new cts cheque books books and withdrawal of all old format cheques, says a circular sent to bank heads. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. Bankers clearing house at for cheque truncation system. In order to avoid any fraud, it is advisable that cts 10 cheques are used. Further, in case you have issued noncts2010 standard postdated cheques pdcsequated monthly instalment emi cheques for repayment of your loan, you are. Request new cheque book by december 31, 2017 account holders of the erstwhile associate banks can now apply for new cheque books till december 31. Non cts cheque bounce and validity in 2016 lawrato.
The directions are part of the central banks latest directive on cheque truncation which extend the validity of cheques issued in the old format until july 31, 20. Cheque printing software follows cts 2010 cheque format. The move to replace cheques with instruments that meet the new cheque cts. Yes, as per the new guidelines provided by rbi reserve bank of india all indian banks should follow cts 2010 cheque formats, and virtual splat has already taken care about this rule. Noncheque truncation system cheques valid until july times. Hence, the existing clearing arrangements will continue till december 31, 20.
Jan 08, 2017 this video explains the validity period of cheque and amount of cheque. Cts 2010 is printed on the left hand side of cheque leaf near the perforation. 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. Rbi has decided to launch this system and all banks across india are required to follow rbi guidelines in this regard. In an official notice on its website, hdfc bank says separate sessions for clearing of non cts cheque will be discontinued from december 31. Noncheque truncation system cheques valid until july. Noncts cheques valid till 31 july rbi the rbi has also said the system of post dated cheques and payment via emi, in either the old or new format. You can change date format ddmmyyyy to d d m m m y y y y and change date character spacing to 5.
As per rbi guidelines, noncts2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Everything you need to know about cts 2010 cheques banking. Check your current cheque book is it valid new cts. You can now print your cheque in cts 2010 with out any worries. Rbi extends deadline for issuance of new standard cheques.
You can now print your cheque in cts 2010 without any worries. Incase the cheque book you currently have is not cts 2010 compliant as per the above features we request you to immediately order a new cheque book. 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. You need to apply in your bank for the same and it is available free of cost. Standardization and enhancement of security features in cheque forms cts 2010 standard reg.
Latest newsdeadline of 31st december 2012 is extended to 31st. The ifsc code is generally printed on the top of the cheque leaf. All cheques issued by banks including ddspos with effect from the date of this circular shall necessarily conform to cts2010 standard, the circular said. Enhancement of security features in cheque forms migrating to cts 2010 standards as covered in annex xa and other circulars from time to time. 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. If your cheques are not cts 2010 complaint, there can realisation delays, as they will be cleared at less frequent intervals. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. It is illegal to issue a blank or post dated cheque.
Rbi wants to implement cts2010 cheque standard as soon as possible. Cheque frauds can be greatly reduced with introduction of minimum security features prescribed under cts standards 2010, such as embedded verifiable features such as barcodes, encrypted codes. Void pantograph just below where the account number is mentioned. You can now print your cheque in cts2010 without any worries.
Know your new ctc2010 standard bank cheque format it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. Cheque printing software supports all printers supports. In an official notice on its website, hdfc bank says separate sessions for clearing of noncts cheque will be discontinued from december 31. Cheque books of these banks valid only till december 31. Jan 15, 2014 non cts compliant cheques cheques not compliant to the cheque truncation systemcts 2010 standards will be cleared thrice a week only, until 30 april, 2014. 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 31. Cheque printer details along with cts2010 mentioned on the extreme left hand side, near the side where you detach a cheque leaf from the cheque book. Otherwise, cts 2010compliant cheques are designed uniformly in terms of size. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. A cts2010 cheque will not have to go through the process of physical clearance. First, very soon the banking system will fully adopt the cheque truncation system cts 2010 standards. Annex v timings for cts in bankers clearing house at new delhi bchnd 36 annex vi adoption of uniform holiday calendar under cts. Features of cts2010 standard chequects cheque truncation.
The following are the features of cts 2010 cheques. The deadline for new cheques under the cheque truncation system cts2010. A reproduction of the sample cheque available on rbis website. Non cts compliant cheques cheques not compliant to the cheque truncation system cts 2010 standards will be cleared thrice a week only, until 30 april, 2014. Within seven working days, i got my new cheque book by courier. Cts2010 standard cheque book issued to the customers will have cheque leaves with letters cts2010 printed vertically on the cheque leaf near the perforation on the left hand side. Emi cheques either in old format or new cts2010 format shall be. According to new guidelines provided by rbi reserve bank of india all indian banks should follow cts 2010 cheque formats, and virtual splat has already taken care about this rule. If the above letters are present, your cheque book is cts2010 compliant 5. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. All residual noncts2010 cheques with customers will continue to be. The chance of cheques getting dishonoured bounced due to new cts rules is almost zero. Cts2010 standard instruments and non2010 standard instruments cts introduced were.
Rbi extends deadline for issuance of new format cheques. The reserve bank of india has extended validity of old cheque book non cts 2010 standard up to july 31, 20. Standardisation and enhancement of security features in. Cheque truncation system cts 2010 standards bankbazaar. You can also request for a new cheque book through dbs atm or internet banking. If you havent switched to cts cheques, you have 4 more months. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. Void pantograph a wave like design is embossed on left hand side of cheque leaf. So rbi needs to extend the validity of old non cts2010 standard cheque book up to 31 march 20. Cts 2010 standard and requested for making arrangements to ensure that the paos procure only the cts 2010. To change date format in boxes as per change in the new cheque format in india, goto cheque book, click on edit button. As per guidelines, non cts2010 cheques issued by bank in india will be. This video explains the validity period of cheque and amount of cheque.
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