So it is necessary for all to understand how your new cheque format looks like. If you are someone who has not yet gotten in touch with your bank for the cts cheque book, its best you do so as soon as possible because, though the noncts2010 standard cheques will be accepted as of now, if you continue to use them beyond the extended period, the cheque will be cleared at less frequent intervals. Get ready to order new india cheque books welcomenri. Features of cts2010 standard chequects cheque truncation system 6222014 01. But for all regions, rbi had fixed december 31 as the last date for phasing out non cts cheque truncation system 2010 cheques. Dec 14, 2012 ithdrawal on non cheque truncation system cts cheque till march 31, 20.
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. Noncts2010 complaint cheques valid up to jul20how does. Latest news deadline of 31st december 2012 is extended to 31st march. Therefore, we recommend you to place a request for a new cheque book. The deadline for the withdrawal of noncts2010 standard cheques is july 31, 20 and banks have begun to issue fresh cheques in the cts2010 complaint format. Noncts cheques may face further clearance delay from may 1. Cts2010 cheques have certain common security features and standardised field placements for enabling image based processing of. The banks have not been able to notify all their customers of the change, and would be unable to replace the old non cts cheque books with the new look cts 2010 standard cheques by the end of the year. The reserve bank of india rbi has introduced a new format for cheques, the cts2010 standard as part of its measures for standardization and enhancement of security features. 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.
Hence, the existing clearing arrangements will continue till december 31, 20. 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. 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. Does your software supports cts2010 cheque formats. For the past 6 months, rbi has been announcing several times saying noncts2010 compliant cheques would be valid up to specific period. 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. Banks shall not charge their savings bank account customers for issuance of cts2010 standard cheques when they are issuedread more. The rbi asked banks to issue new cheque books only under the new. Related news real estate in dire need of onetime loan restructuring. No non cts2010 cheques will be encashed after this date. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of 31 july. The branch address and ifsc code should be on the top left side of the cheque 2.
Rbi has extended the mandatory implementation of cts 2010 based cheque system by 3 months and old cheques will be valid till 31 mar 20. 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 reserve bank of india rbi in its statement on developmental and regulatory policies issued today has informed that the cheque truncation system cts, which is currently operational at the major clearing houses of the country will be made operational pan india by september 2020. Banks, customers go slow in adopting new cheque book the. Nov 07, 2012 cts 2010 standard cheque book your non cts cheques will be valid upto 31 jul 20 against earlier deadline of 31 mar 20. No noncts2010 cheques will be encashed after this date.
Rrbs lax in adapting to new ctc cheque format lucknow news. Rbi has now extended the deadline to 31st march 20 to withdraw noncts 2010 standard cheques in. Dec 15, 2012 but for all regions, rbi had fixed december 31 as the last date for phasing out non cts cheque truncation system 2010 cheques. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque. You can also check if your chequebook is cts2010 compliant by checking if. Rbi extends deadline for noncts cheques till july 31 india. 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.
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. Rbi extends deadline for cts 2010 cheques indian express. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. The reserve bank of india rbi has introduced a new format for cheques, the cts 2010 standard as part of its measures for standardization and enhancement of security features. 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. As per earlier direction to all banks, the rbi had fixed december 31 as the last date for phasing out noncts cheque truncation system 2010.
Mar 18, 20 the reserve bank of india rbi on monday extended the deadline to migrate to newlook cheques cts 2010 standard cheques with more security and standardised features to july 31, from march 31, 20. The reserve bank of india rbi has extended the deadline for implementing the cheque truncation system2010 cts 2010 by another three months. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts. Will my old cheques that are not cts2010 still work. But for all regions, rbi had fixed december 31 as the last date for phasing out noncts cheque truncation system 2010 cheques. This would have rendered your old cheque leaves unusable you were required to surrender the old cheques and replace your old cheque books with new ones by then. Though the reserve bank of india deadline for issuing new cheques under the cts 2010 cheque truncation system is coming to an end on. Those who have given non cts2010 cheques for paying their car or home loan emis must resubmit cts2010 standards cheques before. 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. 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. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of 31 july 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc, rbi said. But there is still a large volume of noncts2010 format cheques being presented in imagebaseda clearing. Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant. 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.
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. All cheques issued by banks including dds pos issued by banks with effect from the date of this circular shall necessarily conform to cts2010 standard. Those who have given noncts2010 cheques for paying their car or home loan emis must resubmit cts2010 standards cheques before. Apr 29, 2014 many banks have still not asked their customers to surrender the noncts 2010 cheque books to reflect the change, a crosssection of bankers told this correspondent, adding the purpose of the. 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.
However, the implementation of cts has been extended. After the deadline, old cheques will only be used for withdrawing cash at particular bank branch. Bank customers do not need to discard their noncts 2010 standard cheque books in a hurry to get their multicity cts2010 standard cheque leafs. For the past 6 months, rbi has been announcing several times saying non cts 2010 compliant cheques would be valid up to specific period. Most banks have already stopped clearing non cts cheques since january 1, 2019. The rbi has extended the deadline for cheque truncation system cts to 1st april, 20. Features of cts2010 standard chequects cheque truncation. This is how a standard cts2010 complaint cheque looks like. Banks have now been asked to ensure all cheques are compliant with cts 2010 standards by april 1, 20.
Rbi extends deadline for new format cheques the hindu. Dec 17, 2012 this would have rendered your old cheque leaves unusable you were required to surrender the old cheques and replace your old cheque books with new ones by then. Noncts2010 complaint cheques valid up to jul20how does this impact you. 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 deadline for new cheques under the cheque truncation system cts2010 has been extended till 31 march 20 by the rbi. The rbi has extended the deadline of march 31 till july 31 for issuance of new cts cheque books books and withdrawal of all old format cheques, says a. 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. The move to replace cheques with instruments that meet the new cheque cts. 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. You can also request for a new cheque book through dbs atm or internet banking. Many banks have still not asked their customers to surrender the noncts 2010 cheque books to reflect the change, a crosssection of bankers told. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010.
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. 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. Cts 2010 standard cheque introduced for standardization of security features and easy processing. 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 16, 2012 you must obtain a cts 2010 compliant cheque book on or before 31st march 20.
Does your software supports cts 2010 cheque formats. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. Please note that when you receive or issue a cheque, if. 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. Cts 2010 new cheque truncation system wef 1st april 20. 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. 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. All compliant cheques will have cts 2010 printed on the left side of each cheque leaf. To change the cheque dimensions, you can click and drag the borders of the cheque. Go to your bank branch and request for a new cheque book or order one online.
The last date to comply with this order is december 31, 2018. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. Branch address with ifsc code printed top of the cheque. 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. Get ready to order new india cheque books times of. Get ready to order new india cheque books times of india. Sep 14, 2015 the number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. Rbi extends deadline for noncts cheques till july 31. 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.
The homogeneity in security features of cts 2010 cheques will act as deterrent against frauds, and the fixed field placement specifications facilitate straightthroughprocessing at drawee banks end through the use. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Cheque truncation system basically helps in faster clearance of the cheques in the banking records. Rbi has realized that all the banks are not yet prepared for the switchover to the new system by 1st january. Rbi has extended the mandatory implementation of cts2010 based cheque system by 3 months and old cheques will be valid till 31 mar 20.
No non cts 2010 cheques will be encashed after this date. Rrbs lax in adapting to new ctc cheque format lucknow. The reserve bank of india rbi on monday extended the deadline to migrate to newlook cheques cts2010 standard cheques with more security and standardised features to. Rbi extends deadline for issuance of new format cheques. Mar 20, 20 the earlier deadline was march 31, rbi added. 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 number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. Rbi has been decided to extend the time up to 31st july 20. For the uninitiated, cts transforms cheque clearing from a.
Dear customer, further to our earlier communication on cheque truncation system cts2010 standard cheque books, we wish to update you that, as per rbi notification dated 18 march 20, the deadline for withdrawal of standard cheque book has been extended till 31 july 20. Noncts cheques valid till 31 july rbi india infoline. 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. 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. Mar 18, 20 this is how a standard cts 2010 complaint cheque looks like. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of 31 july 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc, rbi said. As per the revised rbi guidelines, the deadline of use of non cts compliant cheques have been further extended till 31st december 20. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Banks, customers go slow in adopting new cheque book the hindu. And if you hold any postdated cheques beyond 31st march you will have to arrange to get it replaced with a new cheque truncation system cheque. If the cheque book is not with cts2010 cheque leafs, they are referred to as noncts cheque books.
Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 07. The rbi has extended the deadline of march 31 till july 31 for issuance of new cts cheque books books and withdrawal of all old format cheques, says a circular sent to bank heads. Noncts cheques may face further clearance delay from may. You must obtain a cts2010 compliant cheque book on or before 31st march 20. Also already circulated cheques will be replaced within 31st december 2012. 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. However, as per rbi guidelines dated 18th march, 20, now this deadlines has been revised. Jun 25, 20 non cts 2010 complaint cheques valid up to jul20how does this impact you.
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