Cheque books compliant with cheque truncation system cts 2010 standards as per reserve bank of india rbi guidelines, cheque books being issued by banks need to be. From april 20, all banks have to ensure the withdrawal of non cts 2010 standard cheques. My cheque book is not cts 2010 compliant, what to do. Therefore, we recommend you to replace your noncts2010 cheque book with a new cheque book at the earliest. 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.
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. Non cts2010 complaint cheques valid up to jul20how does this impact you. Delivery deadlines shall be agreed for each individual case. 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. 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. There is a new symbol of rupees inserted near the numerical amount column. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. You can also request for a new cheque book through dbs atm or internet banking. You may be using a physical cheque book, but at the backend, banks. These cheques have cts 2010 printed near the left margin.
Jun 25, 20 non cts 2010 complaint cheques valid up to jul20how does this impact you. 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. Punjab national bank this eliminates the cost of movement of physical cheques and reduces the time for clearance for better delivery of services to customers. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. Important message cts 2010 regulation applicable to.
Go to your bank branch and request for a new cheque book or order one. 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. This checklist includes questions you should consider when choosing the right. How to identify my cheque book cts2010 standard compliant. To be valid, they require our written confirmation. Check your current cheque book is it valid new cts. Branch address with ifsc code printed top of the cheque. Everything you need to know about cts 2010 cheques banking basics hdfc bank. Rbi has advised that though non cts2010 standard cheques will continue to be accepted post july 31, 20, they will be cleared at less frequent intervals and may incur additional charges. 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.
You need to apply in your bank for the same and it is available free of cost. Noncts cheques may face further clearance delay from may 1. Incorporated in hong kong sar with limited liability. 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 cts2010 compliant ones.
Sbi, hdfc, pnb, icici, bob, other bank customers these to become invalid non cts cheques used by customers of all banks including state bank of india sbi, hdfc bank, icici bank, bank of baroda, punjab national bank and others will become invalid from january 1. As per rbi guidelines, noncts2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Is your cheque book cts 2010 standard compliant as per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31july20. Identify whether your existing bank accounts cheque books are 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. As per rbi guidelines, now all banks have to issue cheques conforming to the cts 2010 standards with uniform features. Following are the features of new cts 2010 compliant cheques. Get your noncts cheque book replaced immediately, it said. Important message cts 2010 regulation applicable to cts. Cheque truncation system cts or imagebased clearing system ics, in india, is a project undertaken by the. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. 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. 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. 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 you have availed a home or auto loan and issued postdated. Indian banks will reject non cts2010 cheques quick online tips. Noncts2010 complaint cheques valid up to jul20how does. Everything you need to know about cts 2010 cheques. 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.
So, the validity of non cts cheques is again extended, this time upto 30th april 2014. Cheque truncation system new benchmark for cheques in banks. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. As per guidelines, non cts2010 cheques issued by bank in india will be. Cts 2010 compliant cheques blogs, comments and archive news on. The word cts2010 must be printed on the left hand side of the cheque near perforation. Apr 29, 2014 noncts cheques may face further clearance delay from may 1. Cheque books not containing cts2010 cheque leafs are called noncts cheque books. Only cheque books issued after aug 2011 are cts 2010 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. 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.
Every account holder must deposit their non cts cheques and cheque books in their respective branch and get new cheque leaves or books as per the new cts 2010 standard. Get handson excel training from new horizons computer learning centers to complete your job faster or stand out among candidates. If these features are present in your cheque book, it is a cts compliant one. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Tips to replace non cts2010 compliant cheques economictimes. Non cts cheque book issue branch can pay non cts cheque amount. This eliminates the cost of movement of physical cheques and reduces the time for clearance for better delivery of services to customers. Please sign abovea is written on the cheque at the bottom right side. All customers who hold a cheque book issued by the bank prior to 31 march 2012, are requested to apply for a new cheque book as per the cts 2010 standard at.
Therefore, we recommend you to destroy your old non cts 2010 standard cheque book and place a request for a new cheque book. My cheque book is not cts2010 compliant, what to do. Rbi extends deadline for withdrawing noncts 2010 cheques. What does cts 2010 noncompliant cheque mean in icici. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. 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 cts2010 compliant ones before december 31, 2012. According to banking experts, cts2010 cheques have certain common security features and standardised field. In case your cheque is not cts 2010 compliant, you can request for a new cheque book by logging in to citibank online. 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. Microsoft excel is the most commonly used spreadsheet application. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. So it is necessary for all to understand how your new cheque format looks like.
Still using nonctc compliant cheques for making payments and havent got your old cheque books replaced with the cts2010 standard. We would like to inform you that we have been issuing cts 2010 compliant cheque books since april 2011. Jan 12, 20 8 boxes to write the date in ddmmyyy format. As per rbi guidelines, non cts 2010 standard compliant cheques will be cleared through separate clearing. Learning how to use excel is an investment in both your personal and professional life. Since rbi is now moving towards accepting only cts 2010 standards compliant cheques, please note that the old non cts 2010 compliant cheques should not be used post 31st december, 2012.
Tips to replace non cts2010 compliant cheques blogger. 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. Compliance therewith is conditional upon receipt in due time of all documentation, permits, releases and information which must be supplied by the customer and are needed for completing the order. 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. Noncts cheques may face further clearance delay from may. Words cts 2010 printed on the left hand side of the cheque leaf near perforation. Banks, customers go slow in adopting new cheque book the. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of 31 july. In case you have issued non cts 2010 standard post dated cheques pdcs. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. Excel makes it easy to monitor financial performance, such. Rbi extends deadline for withdrawing noncts 2010 cheques by.
If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Rbi has decided to launch this system and all banks across india are required to follow rbi guidelines in this regard. The advent of cts2010 compliant cheques will make the existing cheques invalid from 31 july 20. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts. Apr 22, 20 the advent of cts 2010 compliant cheques will make the existing cheques invalid from 31 july 20. Request through online banking phone banking numbers. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. 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. 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. Cheque truncation system cts cheque printing software.
In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. Also already circulated cheques will be replaced within 31st december 2012. How to identify my cheque book cts2010 standard compliant or. 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 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.
Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. 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. As per reserve bank of india rbi guidelines, cheque books issued by banks need to be compliant with the cheque truncation system cts 2010 standards. Three things to know if you still use cheques livemint. 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 be cleared on all working days.
Will my old cheques that are not cts2010 still work. Rbi guidelines on cheque books compliant with cheque. As per rbi guidelines, non cts 2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Private bankers such as icici bank and hdfc bank had started issuing cts 2010 compliant cheque books since last year as also public bankers such as the state bank of india, allahabad bank and united bank of india. Have you checked if your old cheque book is cts2010 compliant. Under the banking tab, click on the link other banking services request cheque book. All compliant cheques will have cts2010 printed on the left side of each cheque leaf. Indian banks will only accept cheque truncation system cts 2010. Apr 26, 20 the advent of cts 2010 compliant cheques will make the existing cheques invalid from 31 july 20. Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant. 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. All residual noncts2010 cheques with customers will continue to be. Cheque books compliant with cheque truncation system cts.
Rbi had asked banks to replace non cts 2010 compliant cheque books, but most banks are understood to be going slow. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Mar 18, 20 have you checked if your old cheque book is cts2010 compliant. Since rbi is now moving towards accepting only cts 2010 standard compliant cheques, please note that the old non cts 2010 standard cheque forms should not be used post 31 december 2012. I have issued noncts2010 standard post dated cheques pdcs for repayment of my loan. Sep 03, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. The branch address and ifsc code should be on the top left side of the cheque 2. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Thus, it is considered as the major landmark in the indian banking industry. Dec 03, 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. 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.
The advent of cts 2010 compliant cheques will make the existing cheques invalid from 31 july 20. Non cts cheques may face further clearance delay from may 1. No clearance of noncts compliant cheques from january. Features of new cts 2010 compliant cheque chequeman blog. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. The rbi has issued standards for the cts2010 cheque book, which can be accessed at ecs debit.
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. 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. Cts 2010 compliance size, paper signature, date detail. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. How frequently will these separate clearing sessions for non cts 2010 standard compliant cheques be operated. Therefore, we recommend you to place a request for a new cheque book. When it comes to finding the right dms, youve probably got questions. Everything you need to know about cts 2010 cheques banking. Starting 1 august 20 only cts2010 compliant cheques would be accepted.
Oct 03, 2018 as per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. 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 by indian banks to customers to switch to new cheque books. Introducing the newest offerings from dealertrack dms that reduce noise and increase productivity. How do i know if my present cheque book is cts2010 standard compliant. If you havent switched to cts cheques, you have 4 more months. You must obtain a cts2010 compliant cheque book on or before 31st march 20. You can continue to use the same and there is no further action required. 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. If you received your chequebook before august 2011, you are requested to order a new one. 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.
Get your non cts cheque book replaced immediately, it said. Rbi has advised to preferably use dark coloured ink while writing cts cheques. 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. Ensure you use a cts 2010compliant cheque, and know the types of cheques. Cheque books compliant with cheque truncation system. 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. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. 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. If the letters cts 2010 are present here, your cheque book is cts 2010 standard compliant. For the past 6 months, rbi has been announcing several times saying non cts 2010 compliant cheques would be valid up to specific period. 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. Set up your own address book to speed up the checkout process. If you received your cheque book before august 2011, you are requested to order a.