This shall ensure that the feel of cheques is uniform across banks. Hsbc has been issuing payable at par with cts 2010 standard compliant cheque books since march 2012. My cheque book is not cts2010 comp liant, what to do. Sep 14, 2015 the number 2010 in cts 2010 is because the guidelines for cts came up in the year 2010. 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. Reconsidering the date for the implementation of cts 2010, reserve bank of india rbi has extended the deadline to april 01st, 20.
The reserve bank of india rbi has asked banks to issue new cts2010 compliant cheque books under the new format and has given time till julyend to withdraw the old format cheques. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. Jun 15, 2015 based on the progress made by banks in compliance to cts scheme, on july 16 th 20, rbi has extended the use of old non cts cheque up to december, 20. Important message cts 2010 regulation applicable to cts. 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. Rbi extended deadline for cts 2010 standard cheques. You would need to get new chequebooks by then so that you can smoothly write cheques beyond april 20. 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. Cheque truncation system cts cheque printing software.
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. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. So it is necessary for all to understand how your new cheque format looks like. Nov 29, 2012 so please verify whether cheque book you have a already cts 2010 before rushing to bank to get a new one. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. Get ready to order new india cheque books times of. Check your current cheque book is it valid new cts. With the implementation of cheque truncation system cts from april 01, 20 the old passbooks issued by banks to its customers will become void. After i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts 2010 one. Latest news deadline of 31st december 2012 is extended to 31st march 20 from rbi. The guidelines for cts 2010 standard cheques were issued way back in 2010. Noncts cheque book will not be get cleared after sep20. Unique features, cts 2010 compliance size, paper signature, date detail.
The reserve bank of india announced that it has extended the deadline for banks to ensure withdrawal on non cheque truncation system cts. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 07. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Request you all to be compliant and avoid any issues. The earlier deadline was december 31, extended from october 1. Deadline for cts compliant cheques extented to 31st july. Banks shall not charge their savings bank account customers for issuance of cts 2010 standard cheques when they are issued for the first. As per the revised guidelines of rbi the validity of non cts compliant cheques have been extended till 31st a july 20. If you have taken home loan, personal loan or consumer loan for any electronics purchased, this deadline would have an impact on your credit score unless you have already taken necessary steps for this. Deadline for cts compliant cheques extented to 31st july 20. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of 31 july. Please identify if your existing citibank account cheque book is cts 2010 compliant.
Dec 19, 2018 so, better hurry up if you havent got your old cheque books replaced with cts 2010 standard cheque books. Mar 25, 20 deadline for cts compliant cheques extented to 31st july 20 uncategorized march 25, 20 leave a comment the reserve bank of india rbi has asked banks to issue new cts2010 compliant cheque books under the new format and has given time till julyend to withdraw the old format cheques. Most banks have already stopped clearing non cts cheques since january 1, 2019. The standardization of security features would act as a deterrent against frauds and enhance customer safety. The reserve bank of india rbi has extended the deadline for implementing the cheque truncation system2010 cts 2010 by another three months. If the cheques are not compliant with the new cts 2010 standards by. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant.
Banks, customers go slow in adopting new cheque book the. All cheques currently with customers in the old format will continue to be valid for another four months i. Initially, banks had mandated to implement the system by. Mar 23, 20 when a customer deposits a cts 2010 compliant cheque, the bank will send the image of the cheque to the drawee bank, whose cheque has been issued. Banks, customers go slow in adopting new cheque book the hindu. As per the revised rbi guidelines, the deadline of use of non cts compliant cheques have been further extended till 31st december 20. If you are looking to write a cheque or planning to encash from april 1, 20, make sure your cheque complies with the reserve banks cheque truncation system cts 2010 standards. In earlier notification, rbi has instructed banks to implement the new cts 2010 from january 01, 20 which is now been postponed for 3 months.
International helpline 91446685 4555 or your relationship manager to request for a new cheque book. 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. All you need to know about cts2010 standard for cheques. 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. Noncts cheques to become invalid from january 1 goodreturns. 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. You must obtain a cts2010 compliant cheque book on or before 31st march 20. If you have issues some post dated cheques, please get in touch with your respective banks to make required changes. Banks have now been asked to ensure all cheques are compliant with cts 2010 standards by april 1, 20. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance.
Depending on whether the cheque is local or outstation, the cheque can get cleared on the same day or within 24 hours. However, it is now unlikely that the rbi will go beyond january 2019 deadline. You need to apply in your bank for the same and it is available free of cost. Initially, banks had mandated to implement the system by october 2012, which was extended to 1 january 20. Please look for the letters cts 2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. 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. Dec 17, 2012 the rbi has extended the deadline for cheque truncation system cts to 1st april, 20. Nov 26, 2012 cts 2010 standard paper should not glow under ultraviolet uv light i. 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 apex bank had earlier set december 31, 2012, as the deadline for the implementation of the new cheque standards across all banks and nbfcs. Dec 31, 2012 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 post the deadline or may be cleared at a less frequent.
Get cts compliant cheque books issue from respective banks asap. All the banks are now required to issue cts 2010 cheques only. 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. 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 postdated cheques with the cts 2010 compliant ones before december 31, 2012. Worth mentioning here is that most banks have already stopped clearing non cts cheques since january 1, 2019. Noncts cheques valid till 31 july rbi india infoline. Your old cheques will remain valid till march 20 business today. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. If the above letters are present, your cheque book is cts 2010 compliant 5. The cts 2010 implementation deadline has been extended for the second time. Jan 29, 20 since the above post was published around six weeks ago, the cts2010 cutover deadline has been extended by three months to 31 march 20. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. Jan 15, 2014 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.
Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. No noncts2010 cheques will be encashed after this date. Cheque truncation system cts explained bankexamstoday. The branch address and ifsc code should be on the top left side of the cheque 2.
What is the format of cts2010 standard cheque book. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Know about deadline, process, benefits of issuing cts cheque book 2010 with sample cheque. The biggest advantage is that cts compliant cheques are more secure than old. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. Cheque truncation system new benchmark for cheques in banks. So if you are still holding a non cts cheque book, then you should ask your bank to issue a fresh cheque book. Those who have given noncts2010 cheques for paying their car or home loan emis must resubmit cts2010 standards cheques before the above mentioned date or switch to electronic clearing systemecs.
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. Get ready to order new india cheque books times of india. Cts 2010 cheques have certain common security features and standardised field placements for enabling image based processing of. 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. Dec 16, 2012 you must obtain a cts2010 compliant cheque book on or before 31st march 20.
Dec 17, 2012 praveen unnikrishnan december 17, 2012 add comment reconsidering the date for the implementation of cts 2010, reserve bank of india rbi has extended the deadline to april 01st, 20. 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. Cts 2010 standard cheques will be cleared on all working days. Does your software supports cts 2010 cheque formats. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Since then, the deadline for replacing non cts cheques with cts compliant cheques had been revised many times. Nov 19, 2014 all banks providing cheque facility to their customers have been advised to issue only cts 2010 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. To change the cheque dimensions, you can click and drag the borders of the cheque. So, the validity of non cts cheques is again extended, this time upto 30th april 2014. Mar 15, 20 though the reserve bank of india deadline for issuing new cheques under the cts 2010 cheque truncation system is coming to an end on march 31, many banks are yet to provide the new series of cheque.
Starting 1 august 20 only cts2010 compliant cheques. All the cts 2010 cheque should be clean, image friendly and over writing is not accepted because the cheque will be cleared through image based clearing system. Important message cts 2010 regulation applicable to. Starting 1 august 20 only cts 2010 compliant cheques would be accepted for clearing. And you must do it latest by december 31, 2018, if you dont want your cheques to. If you havent switched to cts cheques, you have 4 more months. Instead of this an electronic image of the cheque is transferred with vital essential data. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. Cts2010 cheques have certain common security features and standardised field placements for enabling image based processing of. Dec 15, 2012 get cts compliant cheque books issue from respective banks asap. 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. Go to your bank branch and request for a new cheque book or order one online.
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. Noncts2010 complaint cheques valid up to jul20how does. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Cts cheque your finance book income tax finance investing. Also already circulated cheques will be replaced within 31st december 2012.
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