Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. Also already circulated cheques will be replaced within 31st december 2012. Jan 12, 20 8 boxes to write the date in ddmmyyy format. As a measure to standardize and enhance security features in cheque forms reserve bank of india rbi mandated all banks to implement cts2010 standard cheque book wef 01 jan 20. Cts 2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. Is your cheque book cts2010 compliant standard chartered india. It reduces the time and cheque clearance will become faster. Everything you need to know about cts 2010 cheques banking. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010.
If you are having a cheque book issued by your bank before aug 2011 then you need to get new cts2010 standard cheque book with the new features. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. 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. Requesting all the customers to surrender their old cheque books and getting replaced with new cts2010 standard cheque books. Important message cts 2010 regulation applicable to cts.
Cheque book issued prior to december 2010 is noncts compliant. We are pleased to advise that standard chartered bank has been issuing cts2010 standard compliant cheque books to our customers since april, 2011. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. In case the cheque leaves with you are not cts standard, please request for a new cts 2010 standard cheque book. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you.
Get ready to order new india cheque books times of. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. Sep 03, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. In order to avoid any fraud, it is advisable that cts 10 cheques are used. Format of cts 2010 standard cheque book you may also consult with your bank for more clarification in this regard. The following are some of the features of cts2010 standard cheque. This year, there is something very important which you must do immediately, to ensure smooth financial transactions with your bank. Important message cts 2010 regulation applicable to. 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.
All customers who hold the earlier cheque books issued by the bank are requested to apply for a new cheque book as per the cts2010 standards at the earliest. The banks and the public are learning the differences. Most banks are now issuing cts cheque truncation system 2010 cheque books only and are collecting unused cheque leaves of the noncts 2010 cheque books. We are pleased to advise that standard chartered bank has been issuing cts 2010 standard compliant cheque books to our customers since april, 2011. And you must do it latest by december 31, 2018, if you dont want your cheques to. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of 31 july 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc, rbi said. Watch the demo video to know why the new cts system speeds up cheque clearing times. 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. 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. Nov, 2012 instead of this an electronic image of the same cheque will presented to the drawee bank by the clearing houses with the required information. Cts 2010 standard cheque introduced for standardization of security features and easy processing. What is the format of cts2010 standard cheque book. Cts 2010 standards cheque s issued have the following distinguishing features.
As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by 31st march 20. Indias largest lender the state bank of india sbi will implement the cheque truncation system cts 2010, the new standard of cheques as mandated by. 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. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of july 31, 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc.
The following are some of the features of cts 2010 standard cheque. As per the said new rbi guidelines, banks have been advised to issue only cts 2010 standard multicitypayable at par cheques to their account holders. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. So, better hurry up if you havent got your old cheque books replaced with cts2010 standard cheque books. Ignore, if your cheque book is already cts 2010 standard. You must ensure that your cheque book is cts 2010 compliant. 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. However, these security featureschanges are available only in cts2010 standard cheque books issued. Get ready to order new india cheque books times of india. Cts 2010 standard cheques will be cleared on all working days. As of now the banks in india are using different formats for their cheque leaves mainly for branding, identification, security features etc.
In this system of clearing, the collecting bank need not present the physical cheque to the. You must ensure that your cheque book is cts2010 compliant. If the letters cts2010 are present here, your cheque book is cts2010 standard compliant. All cheques shall carry a standardised watermark, with the words ctsindia which can be seen when held against any light source. To implement this reserve bank of india has given guidelines to all the banks to issue cts2010 standard cheque books to the customers. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. If the cheque has a grey rectangular box void pantographat the bottom left side and the rupee symbol in the amount field, the cheque is cts 2010 standard. As per the direction of reserve bank of india rbi, non cts 2010 cheques will be withdrawn by 31st march 20. Entries tagged with cts2010 standard cheque forms what is cheque truncation system. Only cts 2010 standard cheque books are to be used after. Cts2010 standard paper should not glow under ultraviolet uv light i. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment.
Cheque books not containing cts2010 cheque leafs are called noncts cheque books. If you are holding the non cts2010 standard cheque books cheque leaves, you are requested to. Simple guide for customers to identify if their cheques are cts. Dec 31, 2012 come april 20 and your old cheque books from your bank account in india will become void. The sample of a cts 2010 standard cheque format is shown below. The following are the features of cts 2010 cheques. Therefore, we recommend you to destroy your old noncts2010 standard cheque book and place a request for a new cheque book. Features of cts2010 standard chequects cheque truncation. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. Mar 18, 20 cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of july 31, 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc.
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. Nov 27, 2012 view image above if your cheque is not of cts2010 standards then you need to apply for new cheque book of this standard and surrender the older cheques. According to banking experts, cts2010 cheques have certain common security features and standardised field. The reserve bank of india rbi has introduced a new format for cheques, the cts 2010 standard as part. Indias largest lender the state bank of india sbi will implement the cheque truncation system cts 2010, the new standard of cheques as mandated by the reserve bank of india.
The cheque truncation system cts is basically an online imagebased clearing system ics. 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. Negotiable instrument act by surendra naik june 2, 2017 leave a comment. In case you are having any non cts 2010 unused cheques with you, kindly surrender them at your branch. The ifsc code is generally printed on the top of the cheque leaf. Go to your bank branch and request for a new cheque book or order one online.
As per rbi guidelines, noncts2010 standard compliant cheques will be cleared through separate clearing session with effect from january 2014 which will cause delay in realisation of noncts2010 cheques. Please sign above is mentioned on cheque leaf on the lower righthand side. Please note that non cts 2010 standard cheques will not be valid after 31 st july 20. All cheques issued by banks including ddspos with effect from the date of this circular shall necessarily conform to cts2010 standard, the circular said. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. 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. View image above if your cheque is not of cts2010 standards then you need to apply for new cheque book of this standard and surrender the older cheques. Only cheque books issued after aug 2011 are cts 2010 compliant. Most banks are now issuing cts cheque truncation system 2010 cheque books only and are collecting unused cheque leaves of the. Now days we are all receiving a message from our banks telling about cts 2010. Rbi extended deadline for cts 2010 standard cheques. The new cts standard enables banks to convey the cheque as an image to the clearing house rather than in its physical form. The reserve bank of india rbi has introduced a new format for cheques, the cts2010 standard as part. If you are still in use of nonctc cheque books, then it is in your own interest to get those replaced with cts2010 standard cheque books latest by december 31.
Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of july. Free atm usage,cheque book, statements and direct debits. Please note that non cts 2010 standard cheques will not be valid after july 31, 20. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. A wave like design is embossed on the lefthand side of cheque leafbelow. Dec 19, 2018 so, better hurry up if you havent got your old cheque books replaced with cts2010 standard cheque book s. No noncts2010 cheques will be encashed after this date.
This shall ensure that the feel of cheques is uniform across banks. Please note that non cts2010 standard cheques will not be valid after december 31, 2012. This document covers banks policy in respect of multicity payable at par cts2010 standard cheques. The word cts 2010 printed on the left side of your cheques near the. Cts 2010 introduced some standards and security features such as quality of paper, watermark, filed placements, banks logo in invisible ink, void pantograph, etc. 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. New deadline for the implementation of cts 2010 standard cheques. You may also consult with your bank for more clarification in this regard. How cts2010 cheque is different cts2010 mark up on the vertical side line as shown in above image. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. Everything you need to know about cts 2010 cheques. 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. Cts best practice guidelines national payments corporation of india 5 1. Only cts 2010 standard cheque books are to be used after 31.
Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. In case you have issued non cts 2010 standard post dated cheques pdcs. 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. If you received your chequebook before august 2011, you are requested to order a new one.
So it is necessary for all to understand how your new cheque format looks like. You must obtain a cts2010 compliant cheque book on or before 31st march 20. Hence, the existing clearing arrangements will continue till december 31, 20. Cts best practice guidelines cts best practice guidelines. 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. Check your current cheque book is it valid new cts. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of july 31, 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc. Due to receiving all the services under one roof, the growth of the bank is tremendous.
Accordingly, all banks are now issuing only cts 2010 standard cheque books to esteemed customers. Cts2010 standard cheque introduced for standardization of security features and easy processing. In this system of clearing, the collecting bank need not present the physical cheque to the drawee branch. The move to replace cheques with instruments that meet the new cheque cts2010 standard comes with benefits for banks and customers alike. You are advised to note that effective december 31, 2012 you would not be able to do financial transactions in mutual funds, etc with non cts. Come april 20 and your old cheque books from your bank account in india will become void.
Also all the current circulated cheques will be replaced within 31st march, 20. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. Please note that non cts2010 standard cheques will not be valid after july 31, 20. All customers who hold the earlier cheque books issued by the bank are requested to apply for a new cheque book as per the cts 2010 standards at the earliest. Will my old cheques that are not cts2010 still work. Nov 07, 2012 if you already do not have cheque book with new features, contact your bank for getting a new cts 2010 standard cheque book before 31 dec 2012. Free atm usage, cheque book, statements and direct debits. Cts2010 standard cheques free book on indian stock market.
Cts2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. 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. As a result customer can withdraw or deposit money at any branches of the bank. 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 presenting bank captures the cheque images and magnetic ink charecter recognition micr data from end to end precise scanners by using the capture. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010.
What is cts 2010 standard cheque book cts stands for cheque truncation system it is process of stopping the. Cheque truncation system cts 2010 standards bankbazaar. Change the way you pay your credit and debit card instore,within mobile apps or online. The move to replace cheques with instruments that meet the new cheque cts 2010 standard comes with benefits for banks and customers alike. 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. Request through online banking phone banking numbers.
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