As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by. Jan 08, 2019 the chequedrawing officers will check whether the cheques they use are of cts2010 standard or not. Truncation is the process of stopping the flow of the physical cheque issued by a drawer to the drawee branch. 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. Also already circulated cheques will be replaced within 31st december 2012. The benchmark prescriptions are collectively known as cts2010 standard. The cts2010 standard cheque forms issued from the treasurypao have the standard printed in the leftside margin of the cheque form with some security features, such as quality of paper, void pantograph, watermark, etc. Important message cts 2010 regulation applicable to cts. To change the cheque dimensions, you can click and drag the borders of the cheque. Also all the current circulated cheques will be replaced within 31st march, 20.
Printing of mccs is now fully in conformity with cts 2010 standards. Stop accepting non cts cheques from your client as noncts cheques will delay clearance,approximately it will take three to four days to clear. There is a new symbol of rupees inserted near the numerical amount column. 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. Following are the points to be remembered while shifting to the cheque truncation system.
Look for ctsindia mark on your present cheque leaves by holding it against light source. The physical instrument will be truncated at some point enroute to the drawee branch and an electronic image of the cheque would be sent. And you must do it latest by december 31, 2018, if you dont want your cheques to. 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 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. Thus, it is considered as the major landmark in the indian banking industry. Further, in case you have issued non cts 2010 standard postdated cheque s pdcsequated monthly instalment emi cheques for repayment of your loan, you are. Features of cts2010 standard chequects cheque truncation system 6222014 01. Cheque frauds can be greatly reduced with introduction of minimum security features prescribed under cts standards 2010, such as embedded verifiable. Instead of this an electronic image of the cheque is transferred with vital essential data.
Those who have given noncts2010 cheques for paying their car or home loan emis must resubmit cts2010 standards cheques before. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. You must first ensure that you use only cts2010 compliant cheque leaves from january 1, 20. Noncts2010 complaint cheques valid up to jul20how does this impact you. Dec 16, 2012 you must obtain a cts 2010 compliant cheque book on or before 31st march 20. The number of cheque leaves in the multi city payable at par cts 2010 standard cheque books will be as under. Please note that non cts2010 standard cheques will not be valid after december 31, 2012. 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. In this system of clearing, the collecting bank need not present the physical cheque to the drawee branch. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts. Cheque truncation system cts cheque printing software.
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. If these features are present in your cheque book, it is a cts compliant one. Treasuriespaosbanks will not accept noncts2010 cheques. Jun 25, 20 non cts 2010 complaint cheques valid up to jul20how does this impact you. For the past 6 months, rbi has been announcing several times saying non cts 2010 compliant cheques would be valid up to specific period. And if you hold any postdated cheques beyond 31st march you will have to arrange to get it replaced with a new cheque truncation system cheque. In line with this, banks have been asking their customers to contact their nearest branch to collect the new cts2010compliant cheque books. Procedural guidelines for cheque truncation system cts. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. Cts 2010 standards comprises mandatoryoptional features. Cts 2010 the banks would need to upgrade a few things to comply with cts 2010 standards of rbi. 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.
Will my old cheques that are not cts2010 still work. 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. In case you have issued non cts 2010 standard post dated cheques pdcs. Refer to section 6 of negotiable instruments act and s. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance. Enhancement of security features in cheque forms migrating to cts 2010 standards as covered in annex xa and other circulars from time to time. Many banks have still not asked their customers to surrender the non cts 2010 cheque books to reflect the change, a crosssection of. Noncts cheques were meant to be discontinued from use throughout the country from 31 july 20. Though banks have started issuing new cts 2010 based cheque books to customers, a large number of non cts 2010 standard cheques are still being used.
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. Get your noncts cheque book replaced immediately, it said. Therefore, we recommend you to place a request for a new cheque book. If you have availed a home or auto loan and issued postdated. All the 14 lcpcs are printing and issuing mccs in respect of branches linked to them. Please note that when you receive or issue a cheque, if.
If the above letters are present, your cheque book is cts2010 compliant 5. Noncts cheques may face further clearance delay from may 1. Noncts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. Cheque truncation system cts explained bankexamstoday. Following are the features of new cts 2010 compliant cheques. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. How to identify my cheque book cts2010 standard compliant.
All banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. Noncts cheques may face further clearance delay from may. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. Check your current cheque book is it valid new cts. Sbi is arranging to send these new series of cheque books to its customers at their last recorded address. Again i want to remind you that from november onward non cts cheque will be presented only once in a week i. So, better hurry up if you havent got your old cheque books replaced with cts 2010 standard cheque books. 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. The presenting bank captures the cheque images and magnetic ink charecter recognition micr data from end to end precise scanners by using the capture. Standardization and enhancement of security features in. 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. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. The reserve bank of india rbi on monday extended the deadline to migrate to newlook cheques cts2010 standard cheques with more security and standardised features to july 31, from march 31, 20.
You can also look for cts2010 mark on the left hand side of your chq leaves as shown in above image. 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. Noncts cheques valid till 31 july rbi india infoline. Jan 01, 2019 cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commencing in 2010, for faster clearing of cheques. Branch address with ifsc code printed top of the cheque. Standardisation and enhancement of security features in. So, better hurry up if you havent got your old cheque books replaced with cts2010 standard cheque books. 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. This system is followed for clearing cheques in an errorfree, fast and hasslefree manner.
Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. If it is not marked then ask your bank to issue you a fresh cheque book in cts format. All cheques carry a standardized watermark, with the words ctsindia which can be seen when held against any ligh source. 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. Cheque truncation system, abbreviated as cts, is nothing but an electronic verification procedure using imagebased processing. Cts 2010 standard cheques will be cleared on all working days. 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. Cts2010 cheques have certain common security features and standardised field placements for enabling image based processing of. Cts 2010 standards rbi has vested joint responsibility to npciiba to implement cts 2010 cheque standards. 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.
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. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. Watch the demo video to know why the new cts system speeds up cheque clearing times. 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. Cheques not complying with cts2010 standards will be cleared at less frequent intervals i.
All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. No noncts2010 cheques will be encashed after this date. Cheque printer details along with cts2010 mentioned on the extreme left hand side, near the side where you detach a cheque leaf from the cheque book. The branch address and ifsc code should be on the top left side of the cheque 2. You should ask your party to provide cts cheques only. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. These cheques have cts 2010 printed near the left margin. In the year 2010, rbi came up with the guidelines for cheque truncation system. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts2010 are aimed at enhancing customer safety and facilitating easier. Fintotal news analysis noncts2010 cheques will take. Mar 20, 20 all residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque truncation system cts centres for another four months up.
The customers who have deposited noncts cheques as postdated cheques pdcs for emis to a finance company, or bank for repayment of a loan, will have to replace these with the compliant ones for instalments after 31 july. Go to your bank branch and request for a new cheque book or order one online. Only cts 2010 standard cheque books are to be used after. 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. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features. So it is necessary for all to understand how your new cheque format looks like. Noncts2010 complaint cheques valid up to jul20how does. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. Everything you need to know about cts 2010 cheques. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Get your noncts cheque book replaced immediately, it.
Features of new cts 2010 compliant cheque chequeman blog. Cts 2010 standard cheque book issued to the customers will have cheque leaves with letters cts 2010 printed vertically on the cheque leaf near the perforation on the left hand side. Words cts2010 printed on the left hand side of the cheque leaf near perforation. Features of cts2010 standard chequects cheque truncation. Cts2010 standard cheque introduced for standardization of security features and easy processing. The clearing timings of noncts session are covered in annex xb 1. Non cts 2010 cheques will take much longer to clear. Watch the demo video to know why the new cts system speeds up cheque clearing. You can check if you hold a cts compliant cheque book by verifying if the cheque leaves have the.
Identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required. Cts2010 standard and old bank cheques of india cts2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. It act, 2000 and the bankers book evidence bbeact, 1891, the legal framework was put in place for the introduction of cheque truncation and echeques in india. Cheque book issued prior to december 2010 is noncts compliant. Please sign abovea is written on the cheque at the bottom right side. The cheque truncation system cts is basically an online imagebased clearing system ics.
Now rbi has extended the date to march 31st 20 to exchange your old cheque books with new cts2010 cheque books. Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant. This means that there will be no physical movement of the cheque but rather an. If you have any old cheque books or leaves, get it exchanged with new cts2010. Cheque frauds can be greatly reduced with introduction of minimum security features prescribed under cts standards 2010, such as embedded verifiable features such as barcodes, encrypted codes. If you havent switched to cts cheques, you have 4 more months. 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. All banks providing cheque facility to their customers have been advised to issue only cts2010 standard cheques. Fintotal news analysis noncts2010 cheques will take much. Many banks have still not asked their customers to surrender the noncts 2010 cheque books to reflect the change, a crosssection of. Cheque truncation system is a step by step process to simplify the conventional means of cheque clearance.
Words cts 2010 printed on the left hand side of the cheque leaf near perforation. Here it seems you are asking about a cheque which is signed but not dated and no other details are filled in. Though banks have started issuing new cts2010 based cheque books to customers, a large number of noncts2010 standard cheques are still being used. 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.
It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Those who have given non cts 2010 cheques for paying their car or home loan emis must resubmit cts 2010 standards cheques before. It is illegal to issue a blank or post dated cheque. For the past 6 months, rbi has been announcing several times saying noncts2010 compliant cheques would be valid up to specific period. Cheque printing software indian banks cts 2010 functional. The advent of cts2010 compliant cheques will make the existing cheques invalid from 31 july 20. 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. The benchmark prescriptions are collectively known as cts 2010 standard. Use of dark colored ink to write or print on cheques. Non cts cheques were meant to be discontinued from use throughout the country from 31 july 20.
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. One should be using cts 2010 compliant cheques issued by bank from 1st april 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. Cheque truncation system reduces the scope for clearingrelated frauds. Non cts compliant cheques cheques not compliant to the cheque truncation system cts 2010 standards will be cleared thrice a week only, until 30 april, 2014. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. In the last step, the drawee bank, after going through the data and image thoroughly can accept the cheque and further proceed with making payment. You must obtain a cts2010 compliant cheque book on or before 31st march 20.
Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Nov 19, 2014 all banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. Jan 12, 20 8 boxes to write the date in ddmmyyy format. You need to apply in your bank for the same and it is available free of cost. What does cts 2010 noncompliant cheque mean in icici. 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. How to identify my cheque book cts2010 standard compliant or.
So, the validity of non cts cheques is again extended, this time upto 30th april 2014. Cheque truncation system cts 2010 standards bankbazaar. 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. No non cts 2010 cheques will be encashed after this date. Does your software supports cts 2010 cheque formats. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. Rbi has extended the mandatory implementation of cts2010 based cheque system by 3 months and old cheques will be valid till 31 mar 20. Apr 29, 2014 non cts cheques may face further clearance delay from may 1.
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