If you received your cheque book before august 2011, you are requested to order a. Still using nonctc compliant cheques for making payments and havent got your old cheque books replaced with the cts2010 standard. Please identify if your existing citibank account cheque book is cts2010 compliant. Starting 1 august 20 only cts2010 compliant cheques would be accepted for clearing. Nov 19, 2014 all banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. 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. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. Get your non cts cheque book replaced immediately, it said.
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. These cheques have cts 2010 printed near the left margin. After i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts 2010 one. Cts compliant cheques check your cheque status, only those in new format will be accepted from 1st april 20. Identify whether your existing bank accounts cheque books are cts 2010 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 non cts 2010 standard cheques with cts 2010 standard cheques. You must obtain a cts2010 compliant cheque book on or before 31st march 20. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. There is a new symbol of rupees inserted near the numerical amount column. This means the older noncts 2010 cheques will continue to be valid till march. Mar 03, 2018 cts 2010 compliant cheque means, the cheque adheres to the cheque truncation system which started in 2010 in india, as per the guidelines of rbi. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010.
The word cts2010 must be printed on the left hand side of the cheque near perforation. Its going to have the financial institutions brand printed in extremely violet ink and a particular sample waves referred to as pentograph. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. Cts 2010 standards cheque s issued have the following distinguishing features. Unless most means 95% or more, i suspect that the sheer volumes. Cts 2010 compliant cheque means, the cheque adheres to the cheque truncation system which started in 2010 in india, as per the guidelines of rbi. Rbi had asked banks to replace non cts 2010 compliant cheque books, but most banks are understood to be going slow.
Cts 2010 the banks would need to upgrade a few things to comply with cts 2010 standards of rbi. 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. In case if your cheque book does not reflect the aforementioned details you must obtain a new cts complied cheque book at the earliest, and surrender the non compliant one to the bank. We would like to inform you that we have been issuing cts 2010 compliant cheque books since april 2011. Features of new cts 2010 compliant cheque chequeman blog. If the letters cts 2010 are present here, your cheque book is cts 2010 standard compliant.
Please identify if your existing citibank account cheque book is cts 2010 compliant. So, better not to waste much time and get your new cheque books soon from your bank. Free atm usage, cheque book, statements and direct debits. Mar 15, 20 rbi had asked banks to replace noncts 2010 compliant cheque books, but most banks are understood to be going slow. Cheque truncation system reduces the scope for clearingrelated frauds. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. 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. Cts 2010 the banks would need to upgrade a few things to comply with cts 2010. Jun 25, 20 non cts 2010 complaint cheques valid up to jul20how does this impact you.
If your chequebook is not compliant with rbis cheque truncation system cts, implemented from october 1, it may be invalid from january 1, 20. Go to your bank branch and request for a new cheque book or order one online. Noncts2010 complaint cheques valid up to jul20how does. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. Thus, it is considered as the major landmark in the indian banking industry. Oct 03, 2018 as per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. Following are the points to be remembered while shifting to the cheque truncation system. Of late you must have noticed advertisements in newspapers put up by banks urging account holders to stop circulating non cts compliant cheques and replace their old cheque books with new cts. All the cts 2010 cheque should be clean, image friendly and over writing is not accepted because the cheque will be cleared through image based clearing system. Recently you must have noticed advertisements in newspapers put up by banks urging account holders to stop circulating non cts compliant cheques and replace their old cheque books with new cts enabled ones.
Check your current cheque book is it valid new cts. Important message cts 2010 regulation applicable to. The number 2010 in cts 2010 is because the guidelines for cts came up in the year 2010. All banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. Following are the features of new cts 2010 compliant cheques. Identify whether your existing citibank account cheque book is cts 2010 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 non cts 2010 standard cheques with cts 2010 standard cheques. There are a number of methods to determine a cts 2010compliant cheque. Also already circulated cheques will be replaced within 31st december 2012.
Words cts 2010 printed on the left hand side of the cheque leaf near perforation. Cheque truncation system new benchmark for cheques in banks. Non cts cheques may face further clearance delay from may 1. If not rush to bank we are in the month of december already, and we are quite sure that many of you would be jotting down your a. Banks, customers go slow in adopting new cheque book the. However some of the features of cts cheques are cheque printer details. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. How to identify my cheque book cts2010 standard compliant or.
Therefore, we recommend you to place a request for a new cheque book. Such links are only provided on our website for your convenience and standard chartered bank does not control or endorse such websites, and is not responsible for their contents. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. One can find this symbol where we write amount in figures. If you are still in possession of nonctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. 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. The branch address should be printed on the left side top corner.
Everything you need to know about cts 2010 cheques. Banks, customers go slow in adopting new cheque book the hindu. Cts 2010 new cheque truncation system wef 1st april 20. 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. Nov 29, 2012 after i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts 2010 one. Change the way you pay your credit and debit card instore,within mobile apps or online. Apr 29, 2014 noncts cheques may face further clearance delay from may 1. Cheque book issued prior to december 2010 is noncts compliant. You can continue to use the same and there is no further action required.
In case if your cheque book does not reflect the aforementioned details you must obtain a new cts complied cheque book at the earliest, and surrender the noncompliant one to the bank. Please sign abovea is written on the cheque at the bottom right side. If you have availed a home loan and or auto loan and issued postdated cheques instead of opting for direct debit, then you will be required to replace such postdated cheques with the cts2010 compliant ones before december 31, 2012. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. I have issued noncts2010 standard post dated cheques pdcs for repayment of my loan. Sep 14, 2015 the number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. Instead of this an electronic image of the cheque is transferred with vital essential data. If you have availed a home loan and or auto loan and issued postdated cheques instead of opting for direct debit, then you will be required to replace such.
You must ensure that your cheque book is cts 2010 compliant. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. Cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commenced in 2010. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. 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. One should be using cts 2010 compliant cheques issued by bank from 1st april 20. 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. 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. Cts 2010 compliance size, paper signature, date detail. Dec 16, 2012 cts 2010 compliant cheque will have the printer details along with the text cts 2010 printed on the extreme left hand of the cheque leaf. You must obtain a cts 2010 compliant cheque book on or before 31st march 20.
If these features are present in your cheque book, it is a cts compliant one. If your cheque book has been indented prior to 1st january 2012, you are requested to indent for new cheque book at the earliest to avoid any inconvenience. Please look for the letters cts 2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Non cts2010 complaint cheques valid up to jul20how does this impact you. 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. You need to apply in your bank for the same and it is available free of cost. 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. Only cts 2010 standard cheque books are to be used after.
For the past 6 months, rbi has been announcing several times saying non cts 2010 compliant cheques would be valid up to specific period. I hope you are clear about cheque truncation system cts and how your cheques will become invalid from jan 1,20. 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. Simple guide for customers to identify if their cheques are cts. Therefore, we recommend you to replace your noncts2010 cheque book with a new cheque book at the earliest. 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. In case if your cts 2010 cheque book, you must obtain a new cts complied cheque book, and surrender the non compliant one to the bank. Will my old cheques that are not cts2010 still work. My cheque book is not cts 2010 compliant, what to do. Cheque books not containing cts2010 cheque leafs are called noncts cheque books.
Only cheque books issued after aug 2011 are cts 2010 compliant. Check your cheque status, only those in new format will be accepted from 1st april 20. We are pleased to advise that we have been issuing payable at par cts 2010 standard compliant cheque books to our customers since march 2012. Your cheque book may be invalid from jan 1, 20 rediff. Aug 25, 2019 in the event you dont need any delay in clearing, make sure the cheque you might be issuing or obtain is cts 2010compliant.
Cheque truncation system cts explained bankexamstoday. Non cts cheque book issue branch can pay non cts cheque amount. Cheque truncation means stopping the flow of the physical cheques issued. Go to your bank branch and request for a new cheque book or order one. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance. 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. According to banking experts, cts2010 cheques have certain common security features and standardised field. So it is necessary for all to understand how your new cheque format looks like. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. 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. No noncts2010 cheques will be encashed after this date. This year, there is something very important which you must do immediately, to ensure smooth financial transactions with your bank. If the above letters are present, your cheque book is cts 2010 compliant 5.
You can also request for a new cheque book through dbs atm or internet banking. Noncts cheques may face further clearance delay from may. Branch address with ifsc code printed top of the cheque. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. 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. 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. In the year 2010, rbi came up with the guidelines for cheque truncation system. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you.
Use of dark colored ink to write or print on cheques. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. Everything you need to know about cts 2010 cheques banking. The cheque truncation system cts is a process of stopping flow of physical cheque in which an electronic image of the instrument is presented when it comes. Sep 03, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features. Noncts cheques may face further clearance delay from may 1. Cheque truncating means the cheque is stopped from physically moving from one branch to other. Is your cheque book cts2010 compliant standard chartered india. What rbis announcement today means for your loans and fixed deposit interest rates. Three issues to know in the event you nonetheless use cheques. 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. 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 above letters are present, your cheque book is cts2010 compliant 5. Everything you need to know about cts 2010 cheques banking basics hdfc bank. The word cts 2010 printed on the left side of your cheques near the perforation. For the uninitiated, cts transforms cheque clearing from a. Cheque books compliant with cheque truncation system. Cts 2010 standard cheques will be cleared on all working days. 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. Cheque truncation system cts cheque printing software.