Bank of india, ellora park branch, vadodara, gujarat. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. No fresh post dated cheques pdcequated monthly installment emi cheques either in old format or new cts2010 format shall be accepted. Bank of india, ellora park branch, vadodara, gujarat, find ifsc, micr codes, address, all bank branches in india, for neft, rtgs, ecs transactions. Clearing sessions for non cts 2010 instruments will run once a week on every monday, from 1st nov, 2014 onwards.
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. But the above said additional features are based on rules and regulation of cts 2010. If you have any postdated cheque for a datemonth after 1 january 20, ask the personinstitution concerned to issue a cts 2010 cheque, as the old one will not be valid after 31 december. If you have taken home loan, personal loan or consumer loan for any electronics purchased, this deadline would have an. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. The advent of cts2010 compliant cheques will make the existing cheques invalid from 31 july 2. However, rbi came up with the cheque truncation system cts in the year 20 which proposed some basic security features to be included in cheques. We will bring you the latest updates on the same as they happen. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Rbi is yet to announce t he effective date for cts 2010 standard. With this, the bank will not accept all non cts cheques that you issue from your existing cheque book and those will be out of circulation from december 31, 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. The revised cheque standard, part of cts 2010 standard, is not a mere guideline, but a collective decision of various stakeholders, viz.
Instead of manually transferring cheque from one branch to other branch, under cts the image captured of cheque along with micr will be passed on by the. 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. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. New format cheques from jan 1 the hindu businessline. Cts 2010 standard paper should not glow under ultraviolet uv light i. Also already circulated cheques will be replaced within 31st december 2012. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. There is a new standard in banking called as cheque truncation system or cts 2010, which all the banks have to follow now. You can return your unused cheque book to any of your nearby bank branch and place a fresh order for new cheque books before 31st march 20. Alternation in cheques new rbi circular others forum.
If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. Cheque book issued prior to december 2010 is noncts compliant. And the customers to this respect have been asked to get their non cts cheque book replaced and instead get the new cts 2010 standard chequebook for free. Rbi has issued notification to outdate older cheques leaves by december 31, 2012 by fully adopting to cts 2010 cheque truncation system guidelines. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi.
Sample cheque 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. Does your software supports cts 2010 cheque formats. As a measure to standardize and enhance security features in cheque forms reserve bank of india rbi mandated all banks to implement cts 2010 standard cheque book wef 01 jan 20. Earlier cheques used to be sent physically and this involved delay. Since the first cheque was introduced in india by bank of hindustan in the year 1770, rbi has introduced many features to protect cheques from being forged. Non cts2010 complaint cheques valid up to jul20how does this impact you. 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. If you are having a cheque book issued by your bank before aug 2011 then you need to get new cts 2010 standard cheque book with the new features. As per the direction of reserve bank of india rbi, non cts 2010 cheques will be withdrawn by. Then this cheque moves physcially from his bank to your bank which involves a lot of time and risk. Rbi has notified all banks to implement standardization and enhancement of security features of cheques. So it is necessary for all to understand how your new cheque format looks like.
You need to apply in your bank for the same and it is available free of cost. Under the cts system, the physical movement of cheques between banks will be elminated. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. 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. What is the format of cts2010 standard cheque book. 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. At present, when you issue a cheque to someone, he has deposit the cheque in his bank to get credit.
Please note that when you receive or issue a cheque, if. Even post dated cheques issued which are due after 31 dec 2012 will not be honoured and need to be replaced with new cheque leaf. This shall ensure that the feel of cheques is uniform across banks. All you need to know about cts2010 standard for cheques. How is cts 2010 will be different from earlier system of cheque clearance. Customers should get their old cheque books replaced with new ones conforming to cts2010 standard for cheque forms. However some of the features of cts cheques are cheque printer details. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. The sample of a cts 2010 standard cheque format is shown below. Login to citibank online and under the banking tab, click on link other banking services request cheque book. Instruments not complying with cts 2010 standards will continue be accepted but will be cleared at less frequent intervals. Non cts2010 complaint cheques valid up to jul20how. You can either surrender your old cheque book with your bank and request for new cheque book.
There is a sample cheque image at the end of above document as well. When a cheque is not crossed, it is known as an open cheque or an uncrossed cheque. You can also request for a new cheque book through dbs atm or internet banking. Therefore, we recommend you to place a request for a new cheque book. Cheque truncation system new benchmark for cheques in banks. New cts cheque contains information of printer where they are printed along the words cts 2010 mentioned along the area where we tear off the leaf from the cheque book. Cheque truncation implies stopping the physical flow of cheque. Demat services personal banking state bank of india. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Only cts 2010 standard cheque books are to be used after. This feature will avoid fraudulent from photocopying or printing it. To change the cheque dimensions, you can click and drag the borders of the cheque. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts2010 are aimed at enhancing customer safety and facilitating easier.
In case your cheque book is not cts2010 compliant, please order a new one. The process is speeded up by what is called a cheque truncation system cts. 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. As rbi is moving towards accepting only cts 2010 compliant cheques, non cts cheques should not be used post 31st march, 20. Mark will be in oval shape, and diameter of it is 2. One can find this symbol where we write amount in figures. Or you can use your old cheque book but once cts 2010 comes into effect the processing of cts cheques will become faster and you may have to suffer because of non cts cheque. 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. So, better not to waste much time and get your new cheque books soon from your bank. This new cheque clearing system will be applicable from 1 st january,20. You are advised to note that effective december 31, 2012 you would not be able to do financial transactions in mutual funds, etc with non cts. 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.
You may also consult with your bank for more clarification in this regard. Cts 2010 standard cheque introduced for standardization of security features and easy processing. Cts 2010 standard and old bank cheques of india cts 2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. Simple guide for customers to identify if their cheques are cts. Visit your nearest citibank atm and select option request a cheque book. Webarchive template wayback links use indian english from october 20. Cheque truncation system cts cheque printing software. Request for new cheque book to make your cheques valid. If you have your cheque book issued before aug 2011, then you need to get a new cheque book to be used after 31 dec 2012. If the letters cts2010 are present here, your cheque book is cts2010 compliant.
Identify whether your existing citibank account cheque book is cts 2010 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 non cts 2010 standard cheques with cts 2010 standard cheques. Nepal sbi bank and nbi sign mou for strategic alliance for training programs for human capital developmentnov 01, 2017. As per rbi guidelines, after march 31, 20, non cts 2010 standard compliant cheques will still be accepted for clearing but will be cleared at less frequent intervals. This means that if you have any cheque leaf older than mid 2011 varies from bank to bank, these cheques will not be accepted post january 1, 20. For the past 6 months, rbi has been announcing several times saying non cts 2010 compliant cheques would be valid up to specific period. Payable at par cts 2010 standard cheque books no cheque books no cheque book issued to junior sb accounts however issue of cheque books to other type of operative account, will be done after considering factors like previous transactions, cheque return and unused cheques available in the account etc. Revised depository service charges for residents retail customers and corporates. For example, cheques of all banks would have the watermark at the. You can see some of the features to identify if you have a cts 2010. It might happen that your cheque s start bouncing and do not get accepted from jan 1, 20. Check your current cheque book is it valid new cts. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. All cheques shall carry a standardised watermark, with the words cts india which can be seen when held against any light source. Thus, it is considered as the major landmark in the indian banking industry.
If you already do not have cheque book with new features, contact your bank for getting a new cts 2010 standard cheque book before 31 dec 2012. Magnetic ink character recognition as printed on cheque book to facilitate the processing of cheques. Know about deadline, process, benefits of issuing cts cheque book 2010 with sample cheque. I had to give the first page of my old cheque book and they took my request.
15 1337 669 622 535 1553 692 622 1092 693 764 697 715 717 1268 1232 1612 1146 77 1242 30 137 263 425 1329 115 26 637 1317 206 1356