Cheque books of these banks valid only till december 31, 2017. Chequebook with your back account is this still the norm. Banks have been directed to issue new cheque books to customers free of cost by then. If you have your cheque book issued before aug 2011, then you need to get a new cheque book to be used after 31 dec 2012. Reserve bank of india has issued guidelines on standardisation and enhancement of security features for cheque leaves referred to as cts 2010. When a customer deposits a cts2010complied cheque, the bank can simply send the cheques image to the drawee bank. Procedural guidelines for cheque truncation system cts. Dec 27, 2017 the state bank of india sbi has clarified that customers who had accounts with its erstwhile associate banks and bharatiya mahila bank can now get new cheque books printed with new ifsc till 31 december, 2017. How to request cheque book in central bank of india. The reserve bank of india rbi on monday said customer cheques which are still not compliant to the new electronic cheque truncation system cts will continue to be valid and accepted in. Within seven working days, i got my new cheque book by courier. Void pantograph just below where the account number is mentioned.
You can see some of the features to identify if you have a cts 2010. If the above letters are present, your cheque book is cts2010 compliant 5. Standardisation and enhancement of security features in. 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. Request for new cheque book to make your cheques valid. Get your non cts cheque book replaced immediately, it said. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. 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. Everything you need to know about cts 2010 cheques banking basics hdfc bank. Thus, it is considered as the major landmark in the indian banking industry. First and foremost, many thanks goes to axis bank, india for providing helpful information. Deadline for new format cheques extended the rbi asked banks to issue new cheque books only under the new format and gave them time till julyend to withdraw the old format cheques. Rbi extends deadline for withdrawing noncts 2010 cheques.
This bank was founded in the year 1911 and has more than 4700 branches across india. In case your cheque is not cts 2010 compliant, you can request for a new cheque book by logging in to. Will my old cheques that are not cts2010 still work. Non cts cheque book issue bank can payment non cts cheque. Issue of check book for ac noprotected sir, i deposited my application to issue a new cheque book on 0811 2010. Deadline for new format cheques extended business today. All residual noncts2010 cheques with customers will continue to be valid and.
We would like to bring to your notice that reserve bank of india rbi has further. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts2010 are aimed at enhancing customer safety and facilitating easier processing of cheques. Non cts cheques may face further clearance delay from may 1. 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. You can either surrender your old cheque book with your bank and request for new cheque book. Everything you need to know about cts 2010 cheques. Customers can visit the bank branch or even use the atm or sbis mobile app to apply for a new cheque book. Yes bank is one of the biggest and most trusted banks which is operating in india. Noncts cheques to become invalid from january 1 goodreturns. Hdfc bank has stated that cheques issued prior to august 2011 will not be valid. The right hand corner of the cheque leaf has boxes provided for the date which is in the ddmmyyyy format. 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. Branch address with ifsc code printed top of the cheque.
Banks logo and details on the left hand side corner. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. This is to inform you that by clicking on the hyperlinkok, you will be accessing a website operated by a third party namely such links are provided only for the convenience of the client and axis bank does not control or endorse such websites, and is not. Cheque books of these banks to be invalid after today important things to do before march 31 if youre an sbi customer apply for sbis new cheque book via state bank. Important notification from rbi regarding cts 2010 standard cheques. Features of new cts 2010 compliant cheque chequeman blog.
As per the guidelines the new cheques need to have. Following are the features of new cts 2010 compliant cheques. The main feature of cts2010 cheques is that a cheque can be cleared electronically. At your request, you are being redirected to a third party site. The cheque books issued by their earlier banks will stand invalid by the revised deadline, according to a statement from the bank. We would like to inform you that we have been issuing cts 2010 compliant cheque books since april 2011. Blank cheque remains valid til date is mentioned on it. Cts2010 cheques have certain common security features and standardised field placements for enabling image based processing of. Request a cheque book through online banking how to request for a cheque book how to request cheque book.
Sbi gives more time to associate bank customers to collect. The reserve bank has implemented cts in the national capital region ncr, new delhi, chennai and mumbai with effect from february 1, 2008, september 24, 2011 and april 27, 20 respectively. 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. Sep 21, 2017 the state bank of india sbi has issued an alert to its customers that the cheque books and the ifsc codes of its amalgamated subsidiaries will not be valid after september 30, 2017. 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.
It is clear, thus, that 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. Validity of cheque books for banks merged with sbi extended. State bank of india sbi, the countrys largest lender, came out with an advertisement in all major national dailies on 5 november, stating that it will issue a new set of cheque book to its. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. The rbi has notified that old cheques will continue to be valid and accepted until four months till july. So it is necessary for all to understand how your new. Cheque books of 6 sbi subsidiary banks to be invalid from oct 30. Banks such as idbi bank ltd have already been issuing cts2010.
Cts 2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. Cheque truncation thus obviates the need to move the physical instruments across bank branches, other than in exceptional circumstances for clearing purposes. Check your current cheque book is it valid new cts. Cts 2010 standard cheque introduced for standardization of security features and easy processing. The reserve bank of india rbi has prescribed new guidelines revised guideline again on november 20 on standardization of security features of cheques, aimed at enhancing customer safety and facilitating easier processing. Everything you need to know about cts 2010 cheques banking.
How to new cheque book issue online track new cheque book. Rbi extends deadline for noncts cheques till july 31. 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. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Dont worry, you may now apply for a new one till the year ends as the. The bank merged with sbi are bharatiya mahila bank bmb and its five erstwhile associate banks 1. Validity period of cheque, draft, pay order, bankers cheque. In case you have issued non cts 2010 standard post dated cheques pdcs equated monthly installment emi cheques for repayment of your loan, you. What is the best way to check the validity of a cheque. Cheque book issued prior to december 2010 is noncts compliant. Cheque truncation system, abbreviated as cts, is nothing but an electronic verification procedure using imagebased processing. Mar 20, 20 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, will be banned from now wherever electronic. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses, including the cheque truncation system cts centres for.
If the letters cts2010 are present here, your cheque book is cts2010 compliant. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. As per the direction of reserve bank of india rbi, non cts 2010 cheques will be withdrawn by 31st march 20. As per guidelines, non cts2010 cheques issued by bank in india will be withdrawn from circulation by march 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. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. 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. Cheque books of these banks valid only till december 31. However, banks may continue to follow their existing policy regarding cheque book issuance for additional issuance of. The reserve bank of india has extended validity of old cheque book non cts2010 standard up to july 31, 20.
This means that there will be no physical movement of the cheque but rather an. Cheque truncation system new benchmark for cheques in banks. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. 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.
To, the branch manager state bank of india bhogaon mainpuri205262 sub. Jan 01, 2018 if you are an account holder of sbis erstwhile six associate banks including bharatiya mahila bank, your cheque books will become invalid. Also all the current circulated cheques will be replaced within 31st march, 20. Nov 16, 2017 sbi has said that the cheque books of these banks will not be valid after december 31. I hope you are clear about cheque truncation system cts and how your cheques will become invalid from jan 1,20. Banks shall not charge their savings bank account customers for issuance of cts 2010 standard cheques when they are issued for the first time. 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. As per guidelines, non cts2010 cheques issued by bank in india will be. Oct 12, 2017 have you missed the september 30 deadline to get a new cheque book for state bank of indias sbi erstwhile associate banks.
How to identify my cheque book cts2010 standard compliant. This system is followed for clearing cheques in an errorfree, fast and hasslefree manner. Please read and agree with the disclaimer before proceeding further. 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. Apr 23, 2017 because in this article of mine, i will tell you the complete procedure which you need to follow to request cheque book in central bank of india. Time is extended till 31 july 20 to get new cheque books conforming to rbis cts 2010 standard. There are many people out there who own a bank account with yes bank and are also quite happy with the banking services offered by the bank. From 1 april 2012, cheques, drafts, pay orders and bankers cheques will be valid for only three months. All cheques issued by banks including dds pos issued by banks with effect. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. 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. A cts2010 cheque will not have to go through the process of physical clearance.
Important notification from rbi regarding cts2010 standard cheques. You need to apply in your bank for the same and it is available free of cost. So you should immediately indent a new cts 2010 standard. Nov 29, 2012 so please verify whether cheque book you have a already cts 2010 before rushing to bank to get a new one. I transferred my sbi acnt to another branch, but i had the. Now, old cheque is valid up to july 31 goodreturns. But till now i have not recieved any response from your side even after many times approach through call also. Standardisation and enhancement of security features in cheque.
Cts 2010 cheque pay self or pay yourself correction and clearing process india. If you already do not have cheque book with new features, contact your bank for getting a new cts2010 standard cheque book before 31 dec 2012. 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 books of sbi associate banks will not be valid after. The word is clearly visible in photocopies of a cheque.
Punjab national bank pnb has asked its customers to get their non cts compliant cheques replaced as these instruments will not be accepted for clearance in the banking system from january. Please note that non cts 2010 standard cheques will not be valid. As per rbi guidelines, with effect from april 1, 2012, the validity period of cheques, demand drafts, pay orders and bankers cheques is reduced from 6 months to 3 months, from the date of issue of the instrument. No longer will you be able to use non cts cheques and sbi customers will not be able to do so from december 12, while other bank customers will not be able to use non cts cheques from january 1. Nov 03, 2017 earlier, the cheque books of these erstwhile banks had to go obsolete by september 30 th, 2017 however the state bank of india has now extended the due date for availing new cheque books to december 31 st which in turns means that the old cheque books will be valid till the end of 2017. Deadline ends, old cheques make way for safe, fast cts. Nov 19, 2014 some important points relating to cts 2010 1. Oct 19, 2012 i have a select account with natwest and this account comes with a cheque book as standard and there is a simply procedure in online banking where you can reorder a new cheque book when you need one, this is one of the few banks that still have this facility and this is why i would recommend it. Jan 12, 20 top 7 mistakes newbies make going solar avoid these for effective power harvesting from the sun duration. Cheque truncation system cts cheque printing software.
Similarly, punjab national bank in one of its advisories says. 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. Reserve bank of india has prescribed new guidelines on standardization of security features of cheques. Security features of cheque rbi notice created date. So, the validity of non cts cheques is again extended, this time upto 30th april 2014.
The information technlogy act,o 2000 for recognition of images as valid instrument for payment by the drawee banks. Please contact your home branch for replacement with cts2010 standard cheques. 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. Jan 01, 20 cts cheque 2010 is a image based cheque clearing system undertaken by public banks of many countries for faster clearing of cheques based on electronic data. Please note that non cts 2010 standard cheques will not be valid after december 31, 2012. If these features are not present in your cheque book, than your cheque book is not a valid cts 2010 standard compliant. The deadline for switching to new format bank cheques under the cheque truncation system cts ended on wednesday. There is a new symbol of rupees inserted near the numerical amount column. Noncts cheques may face further clearance delay from may. But butbut where your account goes ifsc code changes to that branch. If you havent switched to cts cheques, you have 4 more months. We would like to bring to your notice that reserve bank of india rbi has further updated its guidelines on standardisation of security features for cheque leaves referred to as cts 2010. Watch the demo video to know why the new cts system speeds up cheque. So it is necessary for all to understand how your new cheque format looks like.
These features are aimed at enhancing customer safety and facilitating easier processing of cheques. Once its dated it will be valid for 3 months from the date of issue. Cheque book is one of the famous ways to make the payment in india. In line with this, banks have been asking their customers to contact their nearest branch to collect the new cts2010compliant cheque books. Simple guide for customers to identify if their cheques. Cheque truncation system cts 2010 standards bankbazaar. 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. The bank urged the customers of former sbi associate banks to get new cheque books in order to continue transactions. Please sign abovea is written on the cheque at the bottom right side. Noncts cheques valid till 31 july rbi india infoline. Also already circulated cheques will be replaced within 31st december 2012.
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