April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. The directions are part of the central banks latest directive on cheque truncation which extend the validity of cheques issued in the old format until july 31, 20. Void pantograph just below where the account number is mentioned. But there is still a large volume of noncts2010 format cheques being presented in imagebaseda clearing. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. Important message cts 2010 regulation applicable to cts. Cts 2010 standard cheques will be cleared on all working days. Procedural guidelines for cheque truncation system cts. You can change date format ddmmyyyy to d d m m m y y y y and change date character spacing to 5. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Nov 16, 2017 request new cheque book by december 31, 2017 account holders of the erstwhile associate banks can now apply for new cheque books till december 31, 2017, which in effect means that the old cheque. 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.
Yes, as per the new guidelines provided by rbi reserve bank of india all indian banks should follow cts 2010 cheque formats, and virtual splat has already taken care about this rule. The clearing timings of noncts session are covered in annex xb 1. In an official notice on its website, hdfc bank says separate sessions for clearing of noncts cheque will be discontinued from december 31. Refer to section 6 of negotiable instruments act and s.
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. Banks logo and details on the left hand side corner. A reproduction of the sample cheque available on rbis website. Banks would do better if they display new cheque format in their branch. Noncheque truncation system cheques valid until july times. Standardization and enhancement of security features in cheque formscts2010 standard reg. Under the banking tab, click on the link other banking services.
Latest newsdeadline of 31st december 2012 is extended to 31st. Rbi extends deadline for noncts cheques till july 31. When a customer deposits a cts2010complied cheque, the bank can simply send the cheque s image to the drawee bank. Rbi has decided to launch this system and all banks across india are required to follow rbi guidelines in this regard. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. So it is necessary for all to understand how your new. The deadline for new cheques under the cheque truncation system cts2010. You can now print your cheque in cts 2010 with out any worries. Cheque printer details along with cts2010 mentioned on the extreme left hand side, near the side where you detach a cheque leaf from the cheque book. Cheque truncation system cts 2010 standards bankbazaar. This means your cheque will not travel physically from one location to another, but an electronic image will be transferred for the bank where the cheque is deposited to the drawee bank. Everything you need to know about cts 2010 cheques banking. The introduction of new cheque standards cts 2010 was warranted on account of several developments in the cheque clearing namely growing use of multicity and payableatpar cheques at any. Old cheque book validity extended up to 31 march 20.
You can now print your cheque in cts2010 without any worries. You can now print your cheque in cts 2010 without any worries. Rbi extends deadline for withdrawing noncts 2010 cheques by. 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. In an official notice on its website, hdfc bank says separate sessions for clearing of non cts cheque will be discontinued from december 31. Jan 08, 2017 this video explains the validity period of cheque and amount of cheque. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. Enhancement of security features in cheque forms migrating to cts 2010 standards as covered in annex xa and other circulars from time to time. According to new guidelines provided by rbi reserve bank of india all indian banks should follow cts 2010 cheque formats, and virtual splat has already taken care about this rule.
International helpline 91446685 4555 or your relationship manager to request for a new cheque book. As per rbi guidelines, noncts2010 standard compliant cheques will be accepted for clearing up to july 31, 20. 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. You need to apply in your bank for the same and it is available free of cost. 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. As per rbi guidelines, now all banks have to issue cheques conforming to the cts 2010 standards with uniform features.
Apr 29, 2014 if your cheques are not cts 2010 complaint, there can realisation delays, as they will be cleared at less frequent intervals. The move to replace cheques with instruments that meet the new cheque cts. With banks continuing to accept old format cheques, customers who are. Know your new ctc2010 standard bank cheque format it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. Rbi extends deadline for issuance of new standard cheques. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Banks have now been asked to ensure all cheques are compliant with cts 2010 standards by april 1, 20. Cheque books of these banks valid only till december 31. 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. Emi cheques either in old format or new cts2010 format shall be. The following are the features of cts 2010 cheques. Cts 2010 is printed on the left hand side of cheque leaf near the perforation. Features of cts2010 standard chequects cheque truncation. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20.
Now, old cheque is valid up to july 31 goodreturns. 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. Standardisation and enhancement of security features in. Rbi extends deadline for issuance of new standard cheques by.
So it is necessary for all to understand how your new cheque format looks like. Rbi wants to implement cts2010 cheque standard as soon as possible. The chance of cheques getting dishonoured bounced due to new cts rules is almost zero. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. The reserve bank of india has extended validity of old cheque book non cts 2010 standard up to july 31, 20. But due to unawareness in customers, around 50% do not surrender the old cheque book. 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. In order to avoid any fraud, it is advisable that cts 10 cheques are used. If the above letters are present, your cheque book is cts2010 compliant 5. Noncts cheques may face further clearance delay from may 1. So, the validity of non cts cheques is again extended, this time upto 30th april 2014. Cheque frauds can be greatly reduced with introduction of minimum security features prescribed under cts standards 2010, such as embedded verifiable features such as barcodes, encrypted codes. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online.
Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. Check your current cheque book is it valid new cts. This video explains the validity period of cheque and amount of cheque. Noncts 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. 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. Reserve bank of india has prescribed certain benchmarks towards achieving standaridization of cheques viz. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook.
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. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. The ifsc code is generally printed on the top of the cheque leaf. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. Standardization and enhancement of security features in cheque forms cts 2010 standard reg.
It is illegal to issue a blank or post dated cheque. 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. Rbi extends deadline for withdrawing noncts 2010 cheques. Further, in case you have issued noncts2010 standard postdated cheques pdcsequated monthly instalment emi cheques for repayment of your loan, you are. Annex v timings for cts in bankers clearing house at new delhi bchnd 36 annex vi adoption of uniform holiday calendar under cts. Old cheques validity is extended to 31 july 20 taxalertindia. As per the guidelines the new cheques need to have. Void pantograph a wave like design is embossed on left hand side of cheque leaf. The rbi asked banks to issue new cheque books only under the new. New format cheques from jan 1 the hindu businessline.
Otherwise, cts 2010compliant cheques are designed uniformly in terms of size. All cheques issued by banks including ddspos with effect from the date of this circular shall necessarily conform to cts2010 standard, the circular said. Please note that when you receive or issue a cheque, if. The reserve bank of india rbi has extended the deadline for implementing the cheque truncation system2010 cts 2010 by another three months. Cts 2010 standard and requested for making arrangements to ensure that the paos procure only the cts 2010. 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. Cheque printing software supports all printers supports. Also already circulated cheques will be replaced within 31st december 2012. In december, the rbi had extended the deadline to convert to the new standard cts2010 by three months to 31 st march, based on the representations from stakeholders.
Request new cheque book by december 31, 2017 account holders of the erstwhile associate banks can now apply for new cheque books till december 31. I have 500 cheques to get printed, how fast the printing will be. 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. Cts2010 standard instruments and non2010 standard instruments cts introduced were. Within seven working days, i got my new cheque book by courier. Therefore, we recommend you to replace your noncts2010 cheque book with a new cheque book at the earliest. New chequebooks can be indented through netbanking, mobilebanking.
Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Dec 14, 2012 the introduction of new cheque standards cts 2010 was warranted on account of several developments in the cheque clearing namely growing use of multicity and payableatpar cheques at any. Cts2010 standard cheques free book on indian stock market. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. A cts2010 cheque will not have to go through the process of physical clearance. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. To change date format in boxes as per change in the new cheque format in india, goto cheque book, click on edit button. Noncheque truncation system cheques valid until july. Rbi extends deadline for noncts cheques till july 31 india.
Mar 19, 20 the directions are part of the central banks latest directive on cheque truncation which extend the validity of cheques issued in the old format until july 31, 20. Rbi extends deadline for issuance of new format cheques. 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. Mr,x having non cts cheque now he is blackmailing more money after paid more also. All residual noncts2010 cheques with customers will continue to be. Also all the current circulated cheques will be replaced within 31st march, 20. Non cts cheque bounce and validity in 2016 lawrato. 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. Hence, the existing clearing arrangements will continue till december 31, 20. Bankers clearing house at for cheque truncation system.
Sbi customers can deposit their non cts cheque in their respective branch and get free new cts 2010 standard chequebook. Cts2010 standard cheque book issued to the customers will have cheque leaves with letters cts2010 printed vertically on the cheque leaf near the perforation on the left hand side. If your cheques are not cts 2010 complaint, there can realisation delays, as they will be cleared at less frequent intervals. Noncts cheques may face further clearance delay from may. So rbi needs to extend the validity of old non cts2010 standard cheque book up to 31 march 20. First, very soon the banking system will fully adopt the cheque truncation system cts 2010 standards. If you have availed a home or auto loan and issued postdated. You can also request for a new cheque book through dbs atm or internet banking. Cheque truncation system cts cheque printing software. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010.
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