Words cts 2010 printed on the left hand side of the cheque leaf near perforation. Cheque books of these banks valid only till december 31, 2017. 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. 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. Nov 16, 2017 sbi has said that the cheque books of these banks will not be valid after december 31. How to identify my cheque book cts2010 standard compliant. Identify whether your existing citibank account cheque book is cts2010 compliant request for a new cheque book, if required. This article on cts cheque 2010 is for increasing public awareness and a special information for indian residents regarding cts cheque. Cheque books of these banks valid only till december 31. 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. Once its dated it will be valid for 3 months from the date of issue. The check older than 3 months is called stale cheque and is not paid and will be returned.
It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. However, account holders can instruct the bank to shorten or lengthen the cheques expiry and actual the duration for the cheques validity will be printed on the cheque itself. Jan 08, 2017 this video explains the validity period of cheque and amount of cheque. Here it seems you are asking about a cheque which is signed but not dated and no other details are filled in. You need to apply in your bank for the same and it is available free of cost. Also already circulated cheques will be replaced within 31st december 2012. 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. 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. How to identify my cheque book cts2010 standard compliant or not. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Also all the current circulated cheques will be replaced within 31st march, 20.
As per rbi guidelines, non cts 2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. 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. Rbi has introduced a new format for cheques, the cts2010 standard. Following are the features of new cts 2010 compliant cheques. 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. As per rbi guidelines, with effect from april 1, 2012, the validity period of cheques, demand drafts, pay orders and bankers cheques will be reduced from 6 months to 3 months, from the date of issue of the instrument. I am not really sure whether the cheques are rbi cts2010 compliant. Cheque truncation system, abbreviated as cts, is nothing but an electronic verification procedure using imagebased processing. Every account holder must deposit their noncts cheques and cheque books in their respective branch and get new cheque leaves or books as per the new cts 2010 standard.
Reserve bank of india procedural guideline for cheque. Under the banking tab, click on the link other banking services request cheque. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. The rbi asked banks to issue new cheque books only under the new. Get ready to order new india cheque books times of india. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Features of new cts 2010 compliant cheque chequeman blog. This system is followed for clearing cheques in an errorfree, fast and hasslefree manner. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. For such case, the validity period will be clearly printed on the. The reserve bank of india rbi has introduced a new format for cheques, the cts 2010 standard as part. Frequently asked questions on cheque usage posb bank.
To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features. This video explains the validity period of cheque and amount of cheque. Latest news deadline of 31st december 2012 is extended to 31st march 20 from rbi. Identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required. A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. It is illegal to issue a blank or post dated cheque. 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. The treasuriespaosbanks will not accept any noncts2010 cheques henceforth. Come april 20 and your old cheque books from your bank account in. Payers are unable to collect their new cheque books. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. This implies you may have to contact those members who have issued post dated cheques using non cts 2010 cheque leaves and request them to replace these pdcs with the new format cheque leaves.
How is cts 2010 will be different from earlier system of cheque clearance. Cheque truncation system cts 2010 standards bankbazaar. Cheque truncation system new benchmark for cheques in banks. The reserve bank of india has advised all banks to issue only cts2010 cheque truncation system2010 standard cheque. Non cts cheque bounce and validity in 2016 answered by expert chequebounce lawyer. Come april 1, 2012, your cheques and bank drafts will have a life of just 3 months. Validity of cheques, drafts cut to 3 months times of india. From 1 april 2012, cheques, drafts, pay orders and bankers cheques will be valid for only three months.
The benchmark prescriptions are collectively known as cts2010 standard. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. On 17 july 20 the rbi extended the deadline to 31 december 20. Revised validity period of cheques, drafts, pay orders. 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. As per the guidelines the new cheques need to have.
Apr 29, 2014 non cts cheques may face further clearance delay from may 1. First and foremost, many thanks goes to axis bank, india for providing helpful information. Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for.
So it is necessary for all to understand how your new cheque format looks like. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. Bank customers rbi new guidelines 2019 non cts cheques stop. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque. After six months or when the cheque expires, you will not be able to cash your cheque successfully. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. The reserve bank of india rbi has introduced a new format for. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. Get your noncts cheque book replaced immediately, it said. Currently, these instruments are valid for six months from the date of issue. What is cheque defined about alteration and material alteration cts cheques. Ensure that your full name, date, amount in words and figure which tally and issuers signature are. This means that there will be no physical movement of the cheque but rather an.
For such case, the validity period will be clearly printed on the face of the cheque. What are the details i need to provide on the cheque to deposit. Cheque books of these 6 banks will be invalid soon, warns sbi. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts. At present, when you issue a cheque to someone, he has deposit the cheque in his bank to get credit. Check your current cheque book is it valid new cts. How to identify my cheque book cts2010 standard compliant or. The new cts standard enables banks to convey the cheque as an image to the clearing house rather than in its physical form. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. The main feature of cts2010 cheques is that a cheque can be cleared electronically. The branch address and ifsc code should be on the top left side of the cheque 2.
Validity period of cheque, draft, pay order, bankers. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. When a customer deposits a cts2010complied cheque, the bank can simply send the cheque s image to the drawee bank. Everything you need to know about cts 2010 cheques. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. Important message cts 2010 regulation applicable to cts. With new cheque truncation system system, the whole banking. Normal validity is 3 months but can be restricted by the account holder. All banks providing cheque facility to their customers have been advised to issue only cts2010 standard cheques. Branch address with ifsc code printed top of the cheque.
April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. This implies you may have to contact those members who have issued post dated cheques using noncts 2010 cheque leaves and request them to replace these pdcs with the new format cheque leaves. We would like to inform you that we have been issuing cts2010 compliant cheque books since april 2011. Nov 29, 2012 please note that as per rbi guidelines, non cts2010 cheques should be withdrawn before december 31, 2012. As per rbi guidelines, noncts2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Payees are unable to follow up with payers to get new cheques before the deadline elapses.
Prohibiting alterations corrections in cheques presented through cheque truncation system cts reserve bank of india in order to identify and control fraudulent alterations on cheques has issued guidelines that no changes corrections should be carried out on the cheques other than date validation purposes, if required. Noncts cheques may face further clearance delay from may 1. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance. 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. Printers name with cts 2010 in left side of cheque. Under the cts system, the physical movement of cheques between banks will be elminated.
All demand drafts above rs 20,000 will have to be account payee on. 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. According to banking experts, cts2010 cheques have. 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. 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. The chequedrawing officers will check whether the cheques they use are of cts2010 standard or not. Nris, get ready to order new india cheque books the economic. Cheques not complying with cts2010 standards will be cleared at less frequent intervals i.
In case you have issued non cts 2010 standard post dated cheques pdcs equated monthly installment emi cheques for repayment of your loan, you are advised to replace the same with ecs standing instructions for ecs locations or cts 2010 standard cheques for non ecs locations. Noncts compliant cheques shall not be processed for clearing with effect from january 1, 2019, the pnb said in a notification. Rbi extends deadline for issuance of new format cheques. Frequently asked questions on cheque usage posb bank singapore. However, there may be situations when the drawer of a cheque limits the cheque validity period to less than six 6 months. 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. Cheques to only remain valid for 3 months from april 2012. Watermark cts india to be visible cheque is held against any light. 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 cts2010.
You will have to sign the cheque will a darker ink, so that your signatures are valid for scanning. A chequebook is a book containing detachable blank cheques, issued by a bank or building society to holders of cheque accounts. Sbi has said that the cheque books of these banks will not be valid after december 31. If the above letters are present, your cheque book is cts2010 compliant 5. Soon, you have to get a new cheque book along with the indian financial system. Please sign above is mentioned on bottom right of the cheque. Dec 03, 20 i have a couple of bank accounts with check book facility. Blank cheque remains valid til date is mentioned on it. Standardisation and enhancement of security features in. Void pantograph just below where the account number is mentioned.
In the years to come, keeping in mind the cost overheads, banks will probably ban the usage. Validity period of cheque, draft, pay order, bankers cheque. Banks logo and details on the left hand side corner. If your cheques are not cts 2010 complaint, there can realisation delays, as they will be cleared at less frequent intervals. You can continue to use the same and there is no further action required. You are advised to get a replacement of cheque that is more than six 6 months old. Come april 20 and your old cheque books from your bank account in india will become void. 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. 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. Everything you need to know about cts 2010 cheques banking. So, the validity of non cts cheques is again extended, this time upto 30th april 2014. 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. If a person opens an account on november 10, 2010 and gives a check to somebody with date say october 25, 2010, then it is valid and will be paid.
Cheque truncation system cts explained bankexamstoday. The benchmark prescriptions are collectively known as cts 2010 standard. You will not be able to use your old cheque books starting 1 january 2014. Important notification from rbi regarding cts2010 standard cheques. Within seven working days, i got my new cheque book by courier. Refer to section 6 of negotiable instruments act and s. Dec 31, 2012 come april 20 and your old cheque books from your bank account in india will become void. Jan 08, 2019 the treasuriespaosbanks will not accept any noncts2010 cheques henceforth. Treasuriespaosbanks will not accept noncts2010 cheques. Please sign abovea is written on the cheque at the bottom right side. If you havent switched to cts cheques, you have 4 more months. All banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. 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. Nov 11, 2012 the new cts standard enables banks to convey the cheque as an image to the clearing house rather than in its physical form.
Security features of cheque rbi notice created date. If these features are present in your cheque book, it is a cts compliant one. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Epfo challan filing deadline extended how to check your income. Chequebook definition and meaning collins english dictionary. The cts2010 standard cheque forms issued from the treasurypao have the standard printed in the leftside margin of the cheque form with some security. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. If you have ordered your cheque books recently, say, a month. Cheque books not containing cts2010 cheque leafs are called noncts cheque books. Features of cts2010 standard chequects cheque truncation. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Non cts cheque bounce and validity in 2016 answered by expert cheque bounce lawyer. At the corner of the cheque you will find the cts2010 printed. As per guidelines, non cts2010 cheques issued by bank in india will be.
1142 142 784 1583 215 1384 314 417 1160 1523 1083 1526 485 950 959 1343 1377 730 150 44 445 407 1033 1004 457 193 756 260 881 51 159 570 1317 140