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. First and foremost, many thanks goes to axis bank, india for providing helpful information. Nov 19, 2014 all banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. Want a cheque book and dont want to visit the branch to apply. Cheque truncation system cts cheque printing software. What are the precautions required to be taken by the bank customers to avoid frauds. In cheque truncation, the movement of the physical instrument is stopped and replaced by electronic images and associated micr line of the cheque. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Customers in possession of non cts 2010 cheques should visit their respective branch and request for personalized cheque book before 24th mar 20. Cts2010 standard other services of union bank of india. Simple guide for customers to identify if their cheques. Dear bank customer, as per rbi guidelines, only cts 2010 standard cheque books are to be used after 31 december 2012.
All the 14 lcpcs are printing and issuing mccs in respect of branches linked to them. Printing of mccs is now fully in conformity with cts 2010 standards. Thus, it is considered as the major landmark in the indian banking industry. Cheque truncation system cts explained bankexamstoday. Standardisation and enhancement of security features in. Cts standard cheque book union bank of india 201920202021.
All you need to know about cts 2010 standard for cheques cts2010 standard paper should not glow under ultraviolet uv light i. Mar 18, 20 the reserve bank of india rbi on monday extended the deadline to migrate to newlook cheques cts 2010 standard cheques with more security and standardised features to july 31, from march 31, 20. The 2012 union budget had proposed setting up of a financial. Citibank routing numbers ca fl tx il az ny nj wl wa ga.
Offering cheque truncation system cts is a step in this direction. 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. Know your new ctc 2010 standard bank cheque format it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. Rbi has advised all banks holding postdated emi cheques to arrange for replacement of non cts 2010 standard cheques with cts 2010 standard cheques. Sep 05, 2018 cheque truncation system reserve bank of india. We have also been informing our customers whenever they come to our bank that, as per rbi guidelines, noncts 2010. 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. Non cts cheques may face further clearance delay from may 1. And the customers to this respect have been asked to get their non cts cheque book replaced and instead get the new cts 2010 standard chequebook for free.
Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. Watermark cts india to be visible cheque is held against any light. Features of cts 2010 standard cheque cts cheque truncation system 6222014 01. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. 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. Barman, to interalia suggest an appropriate model for cheque truncation in india. Standard chartered bank 2020 site map about us bank with us atms and. Policy on collection of chequesinstruments south indian bank. Non cheque truncation system cheques to be withdrawn bank exams. Check your current cheque book is it valid new cts.
The words cts india will be visible when the cheque is held against light. 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 have availed a home or auto loan and issued postdated. 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. A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. Get ready to order new india cheque books welcomenri. Also all the current circulated cheques will be replaced within 31st march, 20.
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. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. Come april 20 and your old cheque books from your bank account in india will become void. Citibank instant banking center bank building societies 290. As of now the banks in india are using different formats for their cheque leaves mainly for branding, identification, security features etc. 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. Dec 19, 2018 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. Instruments not complying with cts2010 standards will be cleared once a month.
If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. Cts 2010 introduced some standards and security features such as quality of paper, watermark, filed placements, bank s logo in invisible ink, void pantograph, etc. The move to replace cheques with instruments that meet the new cheque cts 2010 standard comes with benefits for banks and customers. Only cts 2010 standard cheque books are to be used after. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. Issue of micr cheque sb only multicity cts 2010 standard cheques chequebook with 25 leaves free in a year from the date of opening personalized cheque book rs. Cheque printing software follows cts 2010 cheque format. Features of cts 2010 standard cheque branch address with ifsc code printed top of the cheque. Mcc cheque books will be dispatched to the customers on their last. Reserve bank of india has laid down cts 2010 standards for. Customers in possession of noncts 2010 cheques should visit their respective branch and request for personalized cheque book before 24th mar 20. You can now print your cheque in cts 2010 without any worries. Features of cts2010 standard chequects cheque truncation. Cheque book issued prior to december 2010 is noncts compliant.
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. 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. Procedural guidelines for cheque truncation system cts. Sep 03, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. In this system of clearing, the collecting bank need not present the physical cheque to the drawee branch. Everything you need to know about cts 2010 cheques. The cheque truncation system cts is basically an online imagebased clearing system ics.
How to order citi bank cheque book online and on citi mobile app. Important notification from rbi regarding cts2010 standard. Cts 2010 is the standard prescribed by the rbi recently for cheques issued by. Personalized cheques issued by our bank since april 2012 are cts 2010 standard. As per rbi directives periodicity for processing non cts cheques in cts clearing has been reduced to once in a month from 01092018 ie second wednesday of the month. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010.
The reserve bank of india rbi on monday extended the deadline to migrate to newlook cheques cts 2010 standard cheques with more security and standardised features to. Is your cheque book cts2010 compliant standard chartered india. This means that there will be no physical movement of the cheque but rather an. If you have availed a loan and have given post dated cheques to your lending bank, do get in touch with them for advice. Everything you need to know about cts 2010 cheques banking basics hdfc bank. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Please sign above is mentioned on bottom right of the cheque. The benchmark prescriptions are collectively known as cts 2010 standard. Cheque truncation systemcts and cts2010 standard,what is cheque truncation systemcts and cts2010 standard. According to new guidelines provided by rbi reserve bank of india all indian banks should follow cts 2010 cheque formats, and virtual splat has already taken care about this rule. Printers name with cts 2010 in left side of cheque. Andhra pradesh, telangana, kerala, karnataka, tamilnadu and union territory of. This system is followed for clearing cheques in an errorfree, fast and hasslefree manner.
The number of cheque leaves in the multi city payable at par cts 2010 standard cheque books will be as under. Krishna has collected cts2010 standard and old bank cheques of india of canara bank, indusland bank. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Important notification from rbi regarding 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. Just visit our internet banking portal onlinesbi and apply for a cheque book online. You can continue to use the same and there is no further action required.
The reserve bank of india rbi has introduced a new format forcheques, the cts 2010 standard as part of its measures for standardization and enhancement of security features. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. As per guidelines, non cts 2010 cheques issued by bank in india will be withdrawn from circulation by march 31, 20. Noncts cheques may face further clearance delay from may. Cheque collection policy state bank of india cheque collection policy 2015. The presenting bank captures the cheque images and magnetic ink charecter recognition micr data from end to end precise scanners by using the capture. This document covers banks policy in respect of multicity payable at par cts2010 standard cheques. All you need to know about cts2010 standard for 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. The cut off date for accepting non cts cheques has been extended till 31st july 20. So it is necessary for all to understand how your new. There will be no value cap for pap cheque issuance and no charges will be levied for payment of pap cheques. You need to apply in your bank for the same and it is available free of cost.
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. 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. 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. Now, old cheque is valid up to july 31 goodreturns. 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. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. The new cts compliant cheque has been redesigned with advanced security features to identify alterations. Uttarakhand, bihar, jharkhand, rajasthan and the union territory of chandigarh. Cheque collection policy customer care state bank of india.
The benchmark prescriptions are known as cts 2010 standard. Cheque truncation system cts 2010 standards bankbazaar. All banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. Every bank customer is expected to obtain new cheque books from their. The working group submitted its recommendations injuly 2003, and suggested a presenting bank. All you need to know about cts2010 standard for cheques cts 2010 standard paper should not glow under ultraviolet uv light i. Cts 2010 introduced some standards and security features such as quality of paper, watermark, filed placements, banks logo in invisible ink, void pantograph, etc. Standard chartered bank the bank is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts 2010 are aimed at enhancing customer safety and facilitating easier processing of cheques. The rbi reserve bank of india on 18 th march asked banks to issue new cheque books only under the new format and gave them time till julyend. Customers who have cheque book facility are requested to verify your cheque book for cts2010 word along with the printer name on the left side of the cheque leaves. 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. New format cheques from jan 1 the hindu businessline.
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. Before bulk printing the cheque books for the first time, adequate number of specimen cheque leaves could be forwarded to the nearest micr cheque processing centre addresses of the centres have. So, better not to waste much time and get your new cheque books soon from your bank. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. Only cts 2010 standard cheque books are to be used after 31. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. January 01, 2010 hdfc bank has implemented the speed clearing at all the locations. Everything you need to know about cts 2010 cheques banking.
So it is necessary for all to understand how your new cheque format looks like. 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. In cheque truncation system or cts, physical movement of the cheque is stopped at the collecting bank and only image is transferred to the drawee bank. Ultra violet logo of bank printed at upper left corner of cheque to be visible in uv lamps. This article on cts cheque 2010 is for increasing public awareness and a special information for indian residents regarding cts cheque 2010. 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.
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