For the past 6 months, rbi has been announcing several times saying noncts2010 compliant cheques would be valid up to specific period. Mar 03, 2018 cts 2010 compliant cheque means, the cheque adheres to the cheque truncation system which started in 2010 in india, as per the guidelines of rbi. 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. Your old cheque leaves may not be valid after march 31, 20, as the rbi has instructed all banks to implement the cheque truncation system. You may also consult with your bank for more clarification in this regard. The rbi has issued standards for the cts2010 cheque book, which can be accessed at ecs debit. If the above letters are present, your cheque book is cts2010 compliant 5. If you received your chequebook before august 2011. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. Watch the demo video to know why the new cts system speeds up. In case if your cheque book does not reflect the aforementioned details you must obtain a new cts complied cheque book at the earliest, and surrender the non compliant one to the bank. Jun 25, 20 non cts 2010 complaint cheques valid up to jul20how does this impact you.
Is your cheque book cts2010 compliant standard chartered india. Your cheques can be permanently banned after january 1, 2019. Free atm usage, cheque book, statements and direct debits. The branch address and ifsc code should be on the top left side of the cheque 2. 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. There is a new standard in banking called as cheque truncation system or cts 2010, which all the banks have to follow now. 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. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. 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. Only cheque books issued after aug 2011 are cts 2010 compliant. 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.
Tips to replace non cts2010 compliant cheques the economic. Of late you must have noticed advertisements in newspapers put up by banks urging account holders to stop circulating noncts compliant cheques and replace their old cheque books with new cts. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Cts2010 compliant cheque will have letters cts2010 printed vertically on. If you received your chequebook before august 2011, you are requested to order a new one. 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. Get your noncts cheque book replaced immediately, it said. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. You can place a request for a new cheque book through internet banking, our 24 hour customer care or at any icici bank branch in india. 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. How do i order a cts2010 standard compliant cheque book. My cheque book is not cts 2010 compliant, what to do. You must first ensure that you use only cts 2010 compliant cheque leaves from january 1, 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.
How to identify my cheque book cts2010 standard compliant. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. All cheques carry a standardized watermark, with the words ctsindia which can be seen when held against any ligh source. Still using nonctc compliant cheques for making payments and havent got your old cheque books replaced with the cts2010 standard. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. Still using nonctc compliant cheques for making payments and havent got your old cheque books replaced with the cts2010 standard cheque books. No clearance of noncts compliant cheques from january. What is the format of cts2010 standard cheque book. Features of new cts 2010 compliant cheque chequeman blog. Of late you must have noticed advertisements in newspapers put up by banks urging account holders to stop circulating non cts compliant cheques and replace their old cheque books with new cts.
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. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. There is a new symbol of rupees inserted near the numerical amount column. Words cts 2010 printed on the left hand side of the cheque leaf near perforation.
Jan 12, 20 8 boxes to write the date in ddmmyyy format. Noncts2010 complaint cheques valid up to jul20how does. Request through online banking phone banking numbers. Cheque truncation system cts cheque printing software. If these features are present in your cheque book, it is a cts compliant one. Yatra platinum credit card a card thats perfect for frequent travelers. You must ensure that your cheque book is cts2010 compliant. Cts 2010 standard cheques will be cleared on all working days. Apr 26, 20 the advent of cts 2010 compliant cheques will make the existing cheques invalid from 31 july 20. It might happen that your cheques start bouncing and do not get accepted from jan 1, 20.
As per the revised rbi guidelines, the deadline of use of non cts compliant cheques have been further extended till 31st december 20. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. 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. We would like to inform you that we have been issuing cts2010 compliant cheque books since. Therefore, we recommend you to replace your non cts 2010 cheque book with a new cheque book at the earliest.
You need to apply in your bank for the same and it is available free of cost. You must obtain a cts2010 compliant cheque book on or before 31st march 20. 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. Change the way you pay your credit and debit card instore,within mobile apps or online. All cheques carry a standardized watermark, with the words cts india which can be seen when held against any ligh source. Cheque truncation system new benchmark for cheques in banks. Go to your bank branch and request for a new cheque book or order one. Please sign abovea is written on the cheque at the bottom right side. 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. 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. The advent of cts 2010 compliant cheques will make the existing cheques invalid from 31 july 20. All compliant cheques will have cts2010 printed on the left side of each cheque leaf. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. What does cts 2010 noncompliant cheque mean in icici.
The customers who have deposited noncts cheques as postdated cheques pdcs for emis to a finance company, or bank for repayment of a loan, will have to replace these with the compliant ones for instalments after 31 july. Three things to know if you still use cheques livemint. Starting 1 august 20 only cts2010 compliant cheques would be accepted for. The branch address should be printed on the left side top corner. Hey rindia, i rarely use my cheque book and i just realized that mine is not cts 2010 compliant. How do i order a cts 2010 standard compliant cheque book. You can check if you hold a cts compliant cheque book by verifying if the cheque leaves have the.
It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. This is how a standard cts2010 complaint cheque looks like. Ensure you use a cts 2010 compliant cheque, and know the types of.
Tips to replace non cts2010 compliant cheques blogger. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. You can place a request for a new cheque book through internet banking, our 24 hour customer care or. Please note that when you receive or issue a cheque, if. Watch the demo video to know why the new cts system speeds up cheque clearing times. Rbi extends deadline for withdrawing noncts 2010 cheques. Will my old cheques that are not cts2010 still work. For the past 6 months, rbi has been announcing several times saying non cts 2010 compliant cheques would be valid up to specific period. Emirates world earn miles with every swipe and see the world sooner. Noncts2010 complaint cheques valid up to jul20how does this impact you. The advent of cts2010 compliant cheques will make the existing cheques invalid from 31 july 20.
Important message cts 2010 regulation applicable to cts. Everything you need to know about cts 2010 cheques. Get your non cts cheque book replaced immediately, it said. Dec 19, 2018 still using nonctc compliant cheques for making payments and havent got your old cheque books replaced with the cts2010 standard cheque books. This year, there is something very important which you must do immediately, to ensure smooth financial transactions with your bank. All compliant cheques will have cts 2010 printed on the left side of each cheque leaf. Words cts2010 printed on the left hand side of the cheque leaf near perforation. How does it work cheque truncation system is an online imagebased cheque clearing system which involves scanning of cheque images and subsequent electronic movement replication of these images within the. If you have availed a home or auto loan and issued postdated. 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. Get ready to order new india cheque books times of. 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. Important message cts 2010 regulation applicable to. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts.
Noncts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. 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. These cheques have cts 2010 printed near the left margin. Apr 22, 20 the advent of cts 2010 compliant cheques will make the existing cheques invalid from 31 july 20.
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. 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. In line with this, banks have been asking their customers to contact their nearest branch to collect the new cts2010compliant cheque books. You must first ensure that you use only cts2010 compliant cheque leaves from january 1, 20. Please identify if your existing citibank account cheque book is cts2010 compliant. Cts 2010 compliant cheque means, the cheque adheres to the cheque truncation system which started in 2010 in india, as per the guidelines of rbi. Cts 2010 compliant cheques blogs, comments and archive news on. Following are the features of new cts 2010 compliant cheques. Check your current cheque book is it valid new cts. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment.
You must ensure that your cheque book is cts 2010 compliant. If the cheques are not compliant with the new cts 2010 standards by march 31st 20, they may be considered invalid and may not be honored. Sep 03, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. The sample of a cts 2010 standard cheque format is shown below.
Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Therefore, we recommend you to replace your noncts2010 cheque book with a new cheque book at the earliest. My cheque book is not cts2010 compliant, what to do. If you havent switched to cts cheques, you have 4 more months. 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. If the letters cts2010 are present here, your cheque book is cts2010 compliant. The customers who have deposited non cts cheques as postdated cheques pdcs for emis to a finance company, or bank for repayment of a loan, will have to replace these with the compliant ones for instalments after 31 july. 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. Also already circulated cheques will be replaced within 31st december 2012. Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant.
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. Ensure you use a cts 2010compliant cheque, and know the types of. Still using nonctc compliant cheques for making payments and havent got your old cheque books replaced with the cts 2010 standard cheque books. 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. 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. The standardization of security features would act as a deterrent against frauds and enhance customer safety. Everything you need to know about cts 2010 cheques banking. We are pleased to advise that standard chartered bank has been issuing cts2010 standard compliant cheque books to our customers since april, 2011. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. So, the validity of non cts cheques is again extended, this time upto 30th april 2014. Cts2010 standard cheques free book on indian stock market. In case if your cheque book does not reflect the aforementioned details you must obtain a new cts complied cheque book at the earliest, and surrender the noncompliant one to the bank.
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. The stronger security features in the cts 2010 cheque makes it easy for the presenting banks to confirm the genuineness of the drawee banks instruments. Mar 18, 20 this is how a standard cts 2010 complaint cheque looks like. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. If you have availed a home loan and or auto loan and issued postdated cheques instead of opting for direct debit, then you will be required to replace such. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant.
Oct 03, 2018 as per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. I issued a post dated cheque last month and wanted to check if that can be cleared. So it is necessary for all to understand how your new cheque format looks like.
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