Cts 2010 cheque book

If these features are present in your cheque book, it is a cts compliant 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. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque. Notice for customers cts2010 standards cheque book. Look for ctsindia mark on your present cheque leaves by holding it against light source. The introduction of new cheque standards cts 2010 was warranted on account of several developments in the cheque clearing viz. Ensure you use a cts 2010compliant cheque, and know the types of cheques for different purposes and the consequences of bounced cheques. Everything you need to know about cts 2010 cheques banking. One can find this symbol where we write amount in figures. The branch address and ifsc code should be on the top left side of the cheque 2. Reserve bank of india has issued guidelines on standardisation and enhancement of security features for cheque leaves referred to as cts2010. What is the format of cts2010 standard cheque book.

Only cheque books issued after aug 2011 are cts 2010 compliant. Thus, it is considered as the major landmark in the indian banking industry. Everything you need to know about cts 2010 cheques. If you received your cheque book before august 2011, you are requested to order a new one. You can now print your cheque in cts2010 without any worries. 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. The new symbol of the indian rupee is printed beside the area where the amount in figures needs to be written. You can also look for cts2010 mark on the left hand side of your chq leaves as shown in above image. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Cts2010 standard cheque introduced for standardization of security features and easy processing. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. Nris do not need to quote aadhaar in itr or link pan with.

Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Standard edition indian banks cts 2010 functional cheque. Oct 03, 2018 as per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. Have you checked if your old cheque book is cts2010 compliant. According to banking experts, cts2010 cheques have certain common security features and standardised field. Cheque printing software follows cts 2010 cheque format. Yatra platinum credit card a card thats perfect for frequent travelers.

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. Cheque books compliant with cheque truncation system cts. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. All our customers are hereby informed to use cts2010 standards cheque books in order to get prompt clearance of cheques for all transactions. Rbi extends deadline for withdrawing noncts 2010 cheques. Banks, customers go slow in adopting new cheque book the hindu. Hence non cts 2010 standards cheque book must be surrendered immediately to the branch to get cts 2010 standards cheque book. Dec 17, 2012 even after march 31st, 20 banks will accept your non cts cheques for clearance but the processing time for non cts cheque will be higher than cts 2010 cheques. What is cts2010 standard cheque book cts stands for cheque truncation system.

Simple guide for customers to identify if their cheques are cts. So, if you have sent a request for issuing a new cheque book, say a couple of months back or more, and have enough cheque leaves even at present, you must check whether they are cts complaint. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. 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. However some of the features of cts cheques are cheque printer details. Now rbi has extended the date to march 31st 20 to exchange your old cheque books with new cts2010 cheque books.

Therefore, non cts cheque would take more time to clear. 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. Noncts cheque book will not be get cleared after sep20. Rbi extended deadline for cts 2010 standard cheques. If you are holding the non cts 2010 standard cheque books cheque leaves, you are requested to surrender the same at the base branch where you are having your account and apply for new cts 2010 standard cheque book. You must obtain a cts2010 compliant cheque book on or before 31st march 20. Requesting all the customers to surrender their old cheque books and getting replaced with new cts2010 standard cheque books. Words cts 2010 printed on the left hand side of the cheque leaf near perforation. If the cheque book is not with cts2010 cheque leafs, they are referred to as noncts cheque books. Banks shall not charge their savings bank account customers for issuance of cts2010 standard cheques when they are issued for the first time. Cts2010 standard and old bank cheques of india cts2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. When a customer deposits a cts2010complied cheque, the bank can simply send the cheques image to.

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. In line with this, banks have been asking their customers to contact their nearest branch to collect the new cts2010compliant cheque books. Please note that non cts2010 standard cheques will not. Important message cts 2010 regulation applicable to. Emirates world earn miles with every swipe and see the world sooner. All the cts2010 cheque should be clean, image friendly and over writing is not accepted because the cheque will be cleared through image based clearing system. Now days we are all receiving a message from our banks telling about cts 2010 standard cheques. If yes, then you have to ask your bank to issue a cts2010 cheque book soon.

Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. Even after march 31st, 20 banks will accept your non cts cheques for clearance but the processing time for non cts cheque will be higher than cts 2010 cheques. With this, the bank will not accept all noncts cheques that you issue from your existing cheque book and those will be out of circulation from december 31, 2012. Rbi has extended the mandatory implementation of cts2010 based cheque system by 3 months and old cheques will be valid till 31 mar 20. Standard cheque books before 31st dec 2012 from 1st jan 20 banks will accept only cts 2010 standard cheques. 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. A bounced cheque can hit your credit score and the issuer. Simply put, a cts2010 cheque will not have to go through the process of physical clearance. If you have ordered your cheque books recently, say, a month. 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. How to identify my cheque book cts2010 standard compliant. The number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. We would like to inform you that we have been issuing cts2010 compliant cheque books since april 2011. 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.

Identify whether your existing citibank account cheque book is cts2010 compliant request for a new cheque book, if required. Nov 29, 2012 please note that as per rbi guidelines, non cts2010 cheques should be withdrawn before december 31, 2012. How do i know if my present cheque book is cts2010 standard compliant. Important message cts 2010 regulation applicable to cts. Change the way you pay your credit and debit card instore,within mobile apps or online. Nov 22, 2012 this new cheque clearing system will be applicable from 1 st january,20. Cts 2010 standard cheque introduced for standardization of security features and easy processing. Get your noncts cheque book replaced immediately, it said. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features. The printer details along with the words cts2010 is mentioned along the area where you tear off the leaf from the cheque book. Mar 18, 20 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. 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. 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.

Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant. How to identify my cheque book cts2010 standard compliant or. 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. Everything you need to know about cts 2010 cheques banking basics hdfc bank. If you received your chequebook before august 2011. Rbi extends deadline for withdrawing noncts 2010 cheques by.

Most banks have already stopped clearing non cts cheques since january 1, 2019. Mar 18, 20 banks shall not charge their savings bank account customers for issuance of cts 2010 standard cheques when they are issued for the first time. However, banks may continue to follow their existing policy regarding cheque book issuance for additional issuance of cheques, in adherence to their accepted fair practices code. 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. Jan 12, 20 8 boxes to write the date in ddmmyyy format. 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. 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. Words cts2010 printed on the left hand side of the cheque leaf near perforation all cheques carry a standardized watermark, with the words ctsindia which can be seen when held against any ligh source. Cts 2010 standard cheques will be cleared on all working days. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. This new cheque clearing system will be applicable from 1 st january,20. Banks, customers go slow in adopting new cheque book the.

Check your current cheque book is it valid new cts. So it is necessary for all to understand how your new cheque format looks like. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts. The reserve bank of india on thursday said that cts, will be made operational pan india by september 2020.

Its all about cts 2010 new cheque truncation system. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Cheque book issued prior to december 2010 is noncts compliant. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. Cheque books not containing cts2010 cheque leafs are called noncts cheque books. Nov 07, 2012 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. Effective december 31st, 2012 usage of non cts 2010 standard cheques would not be applicable with regard to your. My cheque book is not cts2010 compliant, what to do. 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 truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Words cts2010 printed on the left hand side of the cheque leaf near perforation. Go to your bank branch and request for a new cheque book or order one. Dec 19, 2018 if you are still in possession of nonctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. 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. We would like to inform you that we have been issuing cts 2010 compliant cheque books since april 2011. 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. Is your cheque book cts2010 compliant standard chartered india. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. My cheque book is not cts 2010 compliant, what to do. 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.

It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Effective december 31st, 2012 usage of non cts 2010 standard cheques would not be applicable with regard to your investments. 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 books compliant with cheque truncation system cts2010 standards as per reserve bank of india rbi guidelines, cheque books being issued by banks need to be compliant with cheque truncation system cts2010 standards. If the letters cts2010 are present here, your cheque book is cts2010. Cheque books compliant with cheque truncation system.

Remember, your old cheque books from your bank account in india will become void after march 31, 20, as the rbi has instructed all banks to implement the cts across the nation. Nov, 2012 if you have any old cheque books or leaves, get it exchanged with new cts2010. 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. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. New cts cheque contains information of printer where they are printed along the words cts2010 mentioned along the area where we tear off the leaf from the 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 books latest by december 31. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts2010 are aimed at enhancing customer safety and facilitating easier.

Please note that non cts 2010 standard cheques will not be valid after december 31, 2012. This calls for your immediate action to order for a new cts 2010 standard cheque books, states adhil shetty, ceo. Also already circulated cheques will be replaced within 31st december 2012. Cts 2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. 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. If you have availed a home or auto loan and issued postdated. 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.

Indian banks will only accept cheque truncation system cts 2010 complaint cheques after 31 july 20 as per the latest rbi circular issued today which extends the last call given. If yes, then you have to ask your bank to issue a cts 2010 cheque book soon. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. You need to apply in your bank for the same and it is available free of cost. Now use your old cheque book till 31st march 20 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. Therefore, we recommend you to place a request for a new cheque book.