So it is necessary for all to understand how your new cheque format looks like. 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. First, very soon the banking system will fully adopt the cheque truncation system cts 2010 standards. If you are still in use of nonctc cheque books, then it is in your own. The lender is preparing to send the new series of cts compliant cheque books by december 15, 2012.
You can also update the cheque details and have track of cheques to be printed, of a selected or all banks. All those who have yet to apply for the new cts2010 cheque format need to do so before marchend as all banks would necessarily adapt to the new technology of cheque truncation system. Instead of this an electronic image of the cheque is transferred with vital essential data. 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. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. As per guidelines, non cts2010 cheques issued by bank in india will be. 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. Everything you need to know about cts 2010 cheques. New cts cheque contains information of printer where they are printed along the words cts 2010 mentioned along the area where we tear off the leaf from the cheque book. If the letters cts2010 are present here, your cheque book is cts2010 compliant. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Cheques are still the prominent mode of payment in the country. Bank customers rbi new guidelines 2019 non cts cheques stop. The move to replace cheques with instruments that meet the new cheque cts.
A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. I have 500 cheques to get printed, how fast the printing will be. Also already circulated cheques will be replaced within 31st march 20. How to write a letter to your bank manager to request a. Cts 2010 standard cheques will be cleared on all working days. No fresh post dated cheques pdcequated monthly installment emi cheques either in old format or new cts2010 format shall be. My sb ac no 123456899001 this is in context to the above savings bank account number. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. Look for ctsindia mark on your present cheque leaves by holding it against light source. To the branch manager hdfc bank, 12, manek branch, mumbai 412 201 dear sir, reg. 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. Please note that when you receive or issue a cheque, if.
Print cheques from the cheque printing report the cheque printing option in the banking menu enables you to print the pending, already printed or the required cheques continuously from a single screen. Although this is the second time rbi have extended the date of implementation of cts 2010 but it is expected to be implemented soon as some banks have already started issuing cts 2010 cheques to there customers. If it is not marked then ask your bank to issue you a fresh cheque book in cts format. Sbi to send new cheque books by dec 15, update your address.
Cheque book request letter format linkedin slideshare. In lucknow, about 75% customers have already switched to the new format, but in rural areas, the number is bleak. Also already circulated cheques will be replaced within 31st december 2012. 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.
Check your current cheque book is it valid new cts. Get ready to order new india cheque books welcomenri. Check your cheque status, only those in new format will be. 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. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. What is the format of cts2010 standard cheque book. Important message cts 2010 regulation applicable to. As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by.
It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Cheque book request letter format example of request letter to hdfc sbi branch manager for issue of new cheque book. The reserve bank of india rbi has introduced a new format for. Chequetruncation means stopping the flow of the physical cheque. 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. The deadline for new cheques under the cheque truncation system cts2010 has been extended till 31 march 20 by the rbi. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. These cheque books will become invalid from today the sbi on friday had asked the account holders to apply for new cheque books before december 31, 2017 to avoid any inconvenience. Get ready to order new india cheque books times of. If the above letters are present, your cheque book is cts2010 compliant 5. In case you have issued non cts 2010 standard post dated cheques pdcs. A sample video that demonstrate live cts cheque scanning in branch. Watch the demo video to know why the new cts system speeds up cheque clearing times. In fact, almost all banks have started issuing new format cheque books to customers.
In case your cheque book is not cts2010 compliant, please order a new one. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. The new cts standard cheque format will not only help to fasten the process of cheque clearance but also helps in avoiding frauds. We will bring you the latest updates on the same as they happen. 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. This means your cheque will not travel physically from. Rbi extends deadline for noncts cheques till july 31. Issue of new cheque book dear sir, kindly send me a new chequebook issued for the savingaccount number. Request for new cheque book to make your cheques valid.
Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. This would make it difficult for any fraudster to photocopy or. One can find this symbol where we write amount in figures. Photo copy of a valid cts compliant cheque will serve the purpose better for information to general public. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Or you can use your old cheque book but once cts 2010 comes into effect the processing of cts cheques will become faster and you may have to suffer because of non cts cheque. This calls for your immediate action to order for a new cts 2010 standard cheque books, states adhil shetty, ceo. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. Cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commencing in 2010, for faster clearing of cheques.
You can also look for cts2010 mark on the left hand side of your chq leaves as shown in above image. You can also request for a new cheque book through dbs atm or internet banking. 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. Will the banks automatically send new cheque books or one has to ask for it. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance. Cts ics uses cheque image, instead of the physical cheque itself, for cheque clearance thus reducing the turn around time drastically. We are arranging to send these new series cheque books to our valued customers at their last. Cts2010 standard cheque introduced for standardization of security features and easy processing. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. It looks all the current cheque books will have to be replaced. The cts 2010, eliminates physical movement of cheques for the purpose of clearing. You can either surrender your old cheque book with your bank and request for new cheque book.
The sample of a cts 2010 standard cheque format is shown below. Cheque truncation system cts is the system in which the flow of physical movement of the cheque will be eliminated in the cheque clearing process. New format cheques from jan 1 the hindu businessline. Format of cts2010 standard cheque book you may also consult with your bank for more clarification in this regard. Banks would do better if they display new cheque format in their branch. Customers should get their old cheque books replaced with new ones conforming to cts2010 standard for cheque forms. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. Rrbs lax in adapting to new ctc cheque format lucknow.
To change date format in boxes as per change in the new cheque format in india, goto cheque book, click on edit button. Check your cheque status, only those in new format will be honoured from january 1st, 20. All cheques shall carry a standardised watermark, with the words cts india which can be seen when held against any light source. The deadline for switching to new format bank cheques under the cheque truncation system cts ended on wednesday.
Add one more item get a new cheque book to your list of things to do before the new year. So, better not to waste much time and get your new cheque books soon from your bank. The requirement is with immediate effect, because my current chequebook is running out. Come april 20 and your old cheque books from your bank account in india will become void. Only cts 2010 standard cheque books are to be used after. The reserve bank of india rbi has introduced a new format forcheques, the cts2010 standard as part of its measures for standardization and enhancement of security features. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Instead, only the electronic images of the cheques. The new cts enabled cheque contains about 5 changes in the existing cheque which are described below.
However, most banks started issuing cts cheque books from midseptember. You can use any of the below options to reorder a new cheque book. Replace your old cheque books the latest directive rbis says that one may not be able to use the old cheques with the implementation of the new cheque truncation system cts2010 from next year onwards. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Instead, an electronic image of the cheque will be sent to paying branch through the clearing house along with relevant information like data on the micr band, date of presentation. You can change date format ddmmyyyy to d d m m m y y y y and change date character spacing to 5. If you have availed a home or auto loan and issued postdated. 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. 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.
Hence, the existing clearing arrangements will continue till december 31, 20. Sms chqbook xxxx to 52484 from your registered mobile number with citibank, where xxxx refers to the last 4 digits of your citibank atm debit card. New cheque formats under new cheque truncation system. You may not be able to use your old cheques from next year with the implementation of the new cheque truncation system cts2010, which will eliminate physical movement of cheques for clearing.
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