Reserve bank of india has prescribed certain benchmarks towards achieving standaridization of cheques viz. 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. Does your software supports cts2010 cheque formats. Following are the features of new cts 2010 compliant cheques. Cheque truncation system cts 2010 standards bankbazaar. 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. Does your software supports cts 2010 cheque formats. Please sign abovea is written on the cheque at the bottom right side. Frequently asked questions on cheque truncation system cts 2010 1. When you are physically going to the banks branch for submitting a request for new cheque book, some banks will provide you a preprinted format for requesting cheque book and other banks might not have the format and in that case you have to submit a written request letter. Have you seen the new cheque truncation system cts compliant cheque book. 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. As per the direction of reserve bank of india rbi, non cts 2010 cheques will be withdrawn by 31st march 20.
From january 1, it will be mandatory to use only new cheque leaves that are. Banks have now been asked to ensure all cheques are compliant with cts 2010 standards by april 1, 20. 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. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. If it is not marked then ask your bank to issue you a fresh cheque book in cts format.
Now days we are all receiving a message from our banks telling about cts 2010 standard cheques. You can now print your cheque in cts 2010 without any worries. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. The decision would be revisited in future once uv technology stabilises. Therefore, we recommend you to replace your non cts 2010 cheque book with a new cheque book at the earliest. As per guidelines, non cts2010 cheques issued by bank in india will be. You can now print your cheque in cts 2010 with out any worries. Request letter for new cheque book from bank branch.
Cheque printing software follows cts 2010 cheque format. The reserve bank of india rbi has introduced a new format for cheques, the cts 2010 standard as part. Within seven working days, i got my new cheque book by courier. Rbi has introduced a new format for cheques, the cts2010 standard as part of.
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. Standardization and enhancement of security features in cheque forms cts 2010 standard reg. All cheques issued by banks including dds pos issued by banks with effect from the date of this circular shall necessarily conform to cts2010 standard. However some of the features of cts cheques are cheque printer details.
So you should immediately indent a new cts2010 standard. Thus, it is considered as the major landmark in the indian banking industry. Dec 03, 20 i have a couple of bank accounts with check book facility. Please note that non cts2010 standard cheques will not be valid after december 31, 2012. All you need to know about cts 2010 standard for cheques cts2010 standard paper should not glow under ultraviolet uv light i. How to identify my cheque book cts2010 standard 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. If these features are not present in your cheque book, than your cheque book is not a valid cts 2010 standard compliant. Cts2010 standard cheque introduced for standardization of security features and easy processing. As per rbi guidelines, non cts 2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Check your cheque status, only those in new format will be. Therefore, we recommend you to place a request for a new cheque book.
Cts 2010 compliant cheques blogs, comments and archive news on. Jun 09, 2016 how to apply for my personal cheque book. Mar 19, 20 standardization and enhancement of security features in cheque formsmigrating to cts 2010 standards. What does cts 2010 noncompliant cheque mean in icici. My cheque book is not cts2010 compliant, what to do. You can see some of the features to identify if you have a cts2010. Cts 2010 standard and requested for making arrangements to ensure that the paos procure only the cts 2010. Cheque truncation system, abbreviated as cts, is nothing but an electronic verification procedure using imagebased processing. 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. You must obtain a cts2010 compliant cheque book on or before 31st march 20. Banks would do better if they display new cheque format in their branch. Dec 14, 2012 why you need to apply for a new cheque book. Simply put, a cts2010 cheque will not have to go through the process of physical. Identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required.
Check your current cheque book is it valid new cts. 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. 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. 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. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. I am not really sure whether the cheques are rbi cts2010 compliant. The right hand corner of the cheque leaf has boxes provided for the date which is in the ddmmyyyy format.
Get ready to order new india cheque books times of india. It might happen that your cheques start bouncing and do not get accepted from jan 1, 20. Also all the current circulated cheques will be replaced within 31st march, 20. So it is necessary for all to understand how your new. This means that there will be no physical movement of the cheque but rather an. Request letter to bank for issuing new cheque book sample. 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 reserve bank of india rbi has introduced a new format for cheques, the cts2010 standard as part. Noncts cheques valid till 31 july rbi india infoline. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. You can now print your cheque in cts2010 with out any worries.
Below is a sample of cheque which fulfil cts criterias. You need to apply in your bank for the same and it is available free of cost. These cheques have cts 2010 printed near the left margin. Cts 2010 new cheque truncation system wef 1st april 20. The reserve bank of india rbi has extended the deadline for implementing the cheque truncation system2010 cts 2010 by another three months. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. We would like to inform you that we have been issuing cts 2010 compliant cheque books since april 2011. 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. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010.
The number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. Please sign above is mentioned on bottom right of the. 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. Cts2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. 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. But there is still a large volume of noncts2010 format cheques being presented in imagebaseda clearing. The presenting bank captures the cheque images and magnetic ink charecter recognition micr data from end to end precise scanners by using the capture. Yes, as per the 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. Otherwise, cts 2010compliant cheques are designed uniformly in.
Important notification regarding cts2010 standard cheques dear customers, if you are currently using cheque books issued to you by rblbank before july 2011, please apply for a new cheque book urgently. You can now print your cheque in cts 2010 with out any. 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. Only cts 2010 standard cheque books are to be used after. With new cheque truncation system system, the whole banking industry is set to change. You can also look for cts2010 mark on the left hand side of your chq leaves as shown in above image. Sample application to branch manager for issuance of cheque book check book against your account number and your name on the cheque book. So you should immediately indent a new cts 2010 standard. If the letters cts2010 are present here, your cheque book is cts2010 compliant. In this system of clearing, the collecting bank need not present the physical cheque to the drawee branch.
As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by 31st march 20. Everything you need to know about cts 2010 cheques banking basics. As per our earlier communication to you, cheque books issued prior to july 2011 arenot cts2010 compliant and wont be valid henceforth. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010.
What is the format of cts2010 standard cheque book. 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. If the above letters are present, your cheque book is cts2010 compliant 5. 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.
All you need to know about cts2010 standard for cheques. Features of cts2010 standard chequects cheque truncation. Cheque printing software indian banks cts 2010 functional. Requesting all the customers to surrender their old cheque books and getting replaced with new cts2010 standard cheque books. Branch address with ifsc code printed top of the cheque. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. Everything you need to know about cts 2010 cheques banking. Cheque printing software supports all printers supports. Cts 2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india.
Those who have not yet got the ctscompliant cheques can apply for it. Come april 20 and your old cheque books from your bank account in india will become void. Also already circulated cheques will be replaced within 31st december 2012. There is a new standard in banking called as cheque truncation system or cts 2010, which all the banks have to follow now. You should ensure that you use only cts2010 compliant cheque leaves from april 1, 20. Features of new cts 2010 compliant cheque chequeman blog. If these features are not present in your cheque book, than your cheque book is not a valid cts2010 standard compliant. Get your new chequebook, now patna news times of india. Look for ctsindia mark on your present cheque leaves by holding it against light source. 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. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Important notification regarding cts2010 standard cheques.
Cts 2010 standard cheque introduced for standardization of security features and easy processing. How to identify my cheque book cts2010 standard compliant or. Will my old cheques that are not cts2010 still work. It is illegal to issue a blank or post dated cheque. So it is necessary for all to understand how your new cheque format looks like. 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 the said new rbi guidelines, banks have been advised to issue only cts 2010 standard multicitypayable at par cheques to their account holders. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. You can also request for a new cheque book through dbs atm or internet banking. Get ready to order new india cheque books times of. All you need to know about new cheque books bangalore. First and foremost, many thanks goes to axis bank, india for providing helpful information. Cts has been implemented in new delhi, chennai and mumbai with effect from february 1, 2008, september 24, 2011 and april 27, 20 respectively. Rbi has issued a circular telling all banks that they should only process and accept those cheques which follow cts guidelines what is cheque.
There is a new symbol of rupees inserted near the numerical amount column. 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. Printers name with cts 2010 in left side of cheque. The move to replace cheques with instruments that meet the new cheque cts 2010 standard comes with benefits for banks and customers alike. A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. New format cheques from jan 1 the hindu businessline. Dec 31, 2012 come april 20 and your old cheque books from your bank account in india will become void. One can find this symbol where we write amount in figures.
This system is followed for clearing cheques in an errorfree, fast and hasslefree manner. The word is clearly visible in photocopies of a cheque. What is cts2010 standard cheque book cts stands for cheque truncation system. Everything you need to know about cts 2010 cheques. Rbi new cheque cts 2010 guide line standardization and enhancement of security features in cheque formsmigrating to cts 2010 standards a. 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. Jul 16, 20 standardization and enhancement of security features in cheque formsmigrating to cts 2010 standards please refer to the instructions contained in our circular no. Watch the demo video to know why the new cts system speeds up cheque clearing times for you, and how to identify a cts. Effective december 31st, 2012 usage of non cts 2010 standard cheques would not be applicable with regard to your investments. All this is because we are moving from an old format to a new format of cheque clearance in india. Letters related to bank for issuing cheque book, net banking corporate account sample leave letter format cheque book request letter for current and savings account how to write a letter letters for lovers sample format letters list. 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. 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. Sep 19, 2017 here it seems you are asking about a cheque which is signed but not dated and no other details are filled in.
We would like to inform you that we have been issuing cts2010 compliant cheque books since april 2011. Also what is the plan, in terms of timeline, to implement the same in india. Standard edition indian banks cts 2010 functional cheque. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. After migration of the entire cheque volume from micr system to cts, the traditional micrbased cheque processing has been discontinued across the country. 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. Cheque truncation system cts cheque printing software. The cheque truncation system cts is basically an online imagebased clearing system ics.
The move to replace cheques with instruments that meet the new cheque cts2010 standard comes with benefits for banks and customers. Sample letter for request a cheque book bank cheque book. Feb, 2017 new cheque book request, old cheque book issues. Hence, the existing clearing arrangements will continue till december 31, 20. Standardization and enhancement of security features in. Cheque truncation system new benchmark for cheques in banks.
1281 1418 953 269 1003 384 256 493 1122 1259 205 246 1271 76 466 330 683 576 1525 706 356 962 1291 777 1280 283 1311 637 576