If the letters cts2010 are present here, your cheque book is cts2010. If you are a mobile banking customer, use fedmobile federal banks. You can see some of the features to identify if you have a cts2010. 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. 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. Sep 14, 2015 the number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. Will my old cheques that are not cts2010 still work. You can request for a new cts 2010 standard cheque book by any of the following simple steps. Jan 12, 20 8 boxes to write the date in ddmmyyy format. So, if you have sent a request for issuing a new cheque book, say a couple of months back or more, and have enough cheque leaves even at present, you must check whether. Jan 01, 20 post dated cheques issued by you and due after 31st march 20, needs to replace by cts 2010 compliant cheques.
Tips to replace non cts2010 compliant cheques 22 apr, 20, 03. Only cheque books issued after aug 2011 are cts 2010 compliant. Look for ctsindia mark on your present cheque leaves by holding it against light source. The bank is expected to give you the details of principal and interest repaid. Please note that when you receive or issue a cheque, if. 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. Procedural guidelines for cheque truncation system cts. Reserve bank of india has advised banks to withdraw noncts. 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. Dec 19, 2018 cheque books not containing cts 2010 cheque leafs are called non cts cheque books. If the letters cts2010 are present here, your cheque book is cts2010 standard compliant.
What has been orally informed is that so long the details relaing to the ac no. In this system of clearing, the collecting bank need not present the physical cheque to the. These cheques have cts 2010 printed near the left margin. Entries tagged with cts2010 standard cheque forms what is cheque truncation system. Cheque truncation system cts explained published on wednesday, november 19, 2014. My cheque book is not cts2010 compliant, what to do. If you are a net banking customer, log on to fednet federal banks internet banking service and place the request for cheque book. You need to apply in your bank for the same and it is available free of cost. Please note that non cts2010 standard cheques will not be valid after july 31, 20. However some of the features of cts cheques are cheque printer details. I enquired with sbt whether to change my holding cheque book to obtain the new cts 2010. 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. Those who have given non cts2010 cheques for paying their car or home loan emis must resubmit cts2010 standards cheques before.
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. 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. In this regard, we wish to inform that the cts 2010 standard cheque book issued to the customers will have cheque leaves printed with words cts 2010 on each of the cheque leaf. 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. You can see some of the features to identify if you have a cts 2010.
Rbi vide its circular dated september 3, 2012 has now advised banks to withdraw non cts 2010 standards cheques in circulation before december 31,2012. You must obtain a cts2010 compliant cheque book on or before 31st march 20. Dec 16, 2012 you must obtain a cts 2010 compliant cheque book on or before 31st march 20. 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.
At the corner of the cheque you will find the cts2010 printed. 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. Change your cheque book before 31st december certified. Identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required. The bank has asked its customers to get their noncts compliant cheques replaced. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. 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. Reserve bank of india has advised banks to withdraw non. You can either surrender your old cheque book with your bank and request for new cheque book. In this regard, we wish to inform that the cts2010 standard cheque book issued to the customers will have cheque leaves printed with words cts 2010 on each of the cheque leaf. Cheque book issued prior to december 2010 is noncts compliant.
Three things to know if you still use cheques livemint. If you are holding the non cts2010 standard cheque bookscheque leaves, you are requested to surrender the same at the base branch where you are having your account and apply for new cts2010 standard cheque book. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. The cheque book may be couriered to my address given below. What does cts 2010 noncompliant cheque mean in icici. So, if you have sent a request for issuing a new cheque book, say a couple of months back or more, and have enough cheque leaves even at present, you must check whether they are cts complaint.
Indian bank charges rupees thirty for one cts2010 cheque book, from customers. Negotiable instrument act by surendra naik june 2, 2017 leave a comment. Offering cheque truncation system cts is a step in this direction. Thus, it is considered as the major landmark in the indian banking industry. If it is not marked then ask your bank to issue you a fresh cheque book in cts format. Jun 15, 2015 look for ctsindia mark on your present cheque leaves by holding it against light source. Request you to share this post with your colleagues and friends too. We will bring you the latest updates on the same as they happen. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. Listed below are key identification signs to confirm that the cheque book you hold is a cts2010 compliant cheque book. All banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. Cheque truncation system cts explained bankexamstoday.
Nov 29, 2012 so please verify whether cheque book you have a already cts 2010 before rushing to bank to get a new one. How to write a letter to your bank manager to request a. Cheque truncation system new benchmark for cheques in banks. The benchmark prescriptions are collectively known as cts 2010 standard.
You can also look for cts2010 mark on the left hand side of your chq leaves as shown in above image. 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. In case you hold cheque books prior to august 2011, immediately replace them with cts 2010 compliant cheque books from your own branch. 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.
As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. If the above letters are present, your cheque book is cts2010 compliant 5. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Cheque printing software indian banks cts 2010 functional. 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. 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. Request for new cheque book to make your cheques valid. 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. Banks customers should use cts 2010 cheques which are not only image friendly but also have more security features. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Rbi vide its circular dated september 3, 2012 has now advised banks to withdraw noncts 2010 standards cheques in circulation before december 31,2012. First and foremost, many thanks goes to axis bank, india for providing helpful information. How to request for a cts 2010 standard cheque book.
Ensure you use a cts 2010 compliant cheque, and know the types of. 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. Listed below are key identification signs to confirm that the cheque book you hold is a cts 2010 compliant cheque book. Therefore, we recommend you to place a request for a new cheque book.
I hope you are clear about cheque truncation system cts and how your cheques will become invalid from jan 1,20. Cheque books not containing cts2010 cheque leafs are called. Sep 03, 2012 i enquired with sbt whether to change my holding cheque book to obtain the new cts 2010. So it is necessary for all to understand how your new cheque format looks like. Go to your bank branch and request for a new cheque book or order one. One can find this symbol where we write amount in figures. The clearing timings of noncts session are covered in annex xb 1. Also already circulated cheques will be replaced within 31st december 2012. Within seven working days, i got my new cheque book by courier. Branch address with ifsc code printed top of the cheque. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. As per rbi guidelines, after march 31, 20, noncts2010 standard compliant cheques will still be accepted for clearing but will be cleared at less frequent intervals. After i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts2010 one. Customers may requestinsist their banks for cheque forms that are compliant with the cts 2010 standard.
So, if you have sent a request for issuing a new cheque book, say a couple of months back or more, and have enough cheque leaves even at present, you must check whether they are cts complaint before you issue a cheque intended to be honoured anytime in 20. Nov 19, 2014 all banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Those who have given non cts 2010 cheques for paying their car or home loan emis must resubmit cts 2010 standards cheques before. 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. The number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. The cheque truncation system cts is basically an online imagebased clearing system ics. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque. No non cts2010 cheques will be encashed after this date. 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.
Simple guide for customers to identify if their cheques are cts. Also all the current circulated cheques will be replaced within 31st march, 20. If you received your chequebook before august 2011, you are requested to order a new one. 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 cts2010 standard cheques with cts2010 standard cheques. 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. Thus, cts2010, standardizes the cheque to conform to certain features for identification and security purposes. We would like to inform you that we have been issuing cts2010 compliant cheque books since april 2011.
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. Features of cts2010 standard chequects cheque truncation. A reproduction of the sample cheque available on rbis website. You can also request for a new cheque book through dbs atm or internet banking. 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. Axis bank has started issuance of cts 2010 cheque book post august 2011. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. If you have not received it, approach your bank with loan number etc. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. Cheque truncation system cts cheque printing software. Go to your bank branch and request for a new cheque book or order one online. If you request for a new cheque book now, you will get the cts 2010 complied cheque book. This article on cts cheque 2010 is for increasing public awareness and a special information for indian.
Instruments not complying with cts2010 standards will be cleared once a month. Everything you need to know about cts 2010 cheques. As per guidelines, non cts2010 cheques issued by bank in india will be. Check your current cheque book is it valid new cts. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. Watch the demo video to know why the new cts system speeds up cheque clearing. Thus going forward from january 1, 20 you may not be able to use your old cheque leaves, if they arent cts complied. 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. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. 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. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Enhancement of security features in cheque forms migrating to cts 2010 standards as covered in annex xa and other circulars from time to time.
Get your noncts cheque book replaced immediately, it said. No non cts 2010 cheques will be encashed after this date. The rbi asks banks to issue new cheque books only under the new format and gave them time till julyend to withdraw the old format cheques. Nov 21, 2012 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.
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