Chequetruncation means stopping the flow of the physical cheque. A sample video that demonstrate live cts cheque scanning in branch. If you are still in use of nonctc cheque books, then it is in your own. 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. Sms chqbook xxxx to 52484 from your registered mobile number with citibank, where xxxx refers to the last 4 digits of your citibank atm debit card. So, better not to waste much time and get your new cheque books soon from your bank. New cts cheque contains information of printer where they are printed along the words cts 2010 mentioned along the area where we tear off the leaf from the cheque book. Watch the demo video to know why the new cts system speeds up cheque clearing times. Add one more item get a new cheque book to your list of things to do before the new year. This would make it difficult for any fraudster to photocopy or. Instead of this an electronic image of the cheque is transferred with vital essential data. Also already circulated cheques will be replaced within 31st march 20. New cheque formats under new cheque truncation system. 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.
We will bring you the latest updates on the same as they happen. We are arranging to send these new series cheque books to our valued customers at their last. The deadline for new cheques under the cheque truncation system cts2010 has been extended till 31 march 20 by the rbi. 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 transmitted. Instead, an electronic image of the cheque will be sent to paying branch through the clearing house along with relevant information like data on the micr band, date of presentation. You can use any of the below options to reorder a new cheque book. Look for ctsindia mark on your present cheque leaves by holding it against light source. Rbi extends deadline for noncts cheques till july 31. Photo copy of a valid cts compliant cheque will serve the purpose better for information to general public. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. Also already circulated cheques will be replaced within 31st december 2012. 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 ics uses cheque image, instead of the physical cheque itself, for cheque clearance thus reducing the turn around time drastically. 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. This means your cheque will not travel physically from. My sb ac no 123456899001 this is in context to the above savings bank account number. If you have availed a home or auto loan and issued postdated. Cheque truncation system cts is the system in which the flow of physical movement of the cheque will be eliminated in the cheque clearing process. Get ready to order new india cheque books times of. Cheques are still the prominent mode of payment in the country. The lender is preparing to send the new series of cts compliant cheque books by december 15, 2012. Cheque book request letter format example of request letter to hdfc sbi branch manager for issue of new cheque book. Check your cheque status, only those in new format will be. The new cts standard cheque format will not only help to fasten the process of cheque clearance but also helps in avoiding frauds.
If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. You can change date format ddmmyyyy to d d m m m y y y y and change date character spacing to 5. Check your current cheque book is it valid new cts. 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 is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Check your cheque status, only those in new format will be honoured from january 1st, 20.
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. Banks would do better if they display new cheque format in their branch. As per guidelines, non cts2010 cheques issued by bank in india will be. The cts 2010, eliminates physical movement of cheques for the purpose of clearing. You can either surrender your old cheque book with your bank and request for new cheque book. Rbi recognised the disadvantages of this old system and has introduced a new format for cheques, referred as cts2010, where instead of the physical movement of the cheque, an electronic image of the cheque is transmitted to the drawee branch a bank that must pay for a draft or a bill. First, very soon the banking system will fully adopt the cheque truncation system cts 2010 standards. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t.
The rbi has extended the deadline of march 31 till july 31 for issuance of new cts cheque books books and withdrawal of all old format cheques, says a. This calls for your immediate action to order for a new cts 2010 standard cheque books, states adhil shetty, ceo. So it is necessary for all to understand how your new cheque format looks like. The reserve bank of india rbi has introduced a new format forcheques, the cts2010 standard as part of its measures for standardization and enhancement of security features. 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 your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. If it is not marked then ask your bank to issue you a fresh cheque book in cts format. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. 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. You can also request for a new cheque book through dbs atm or internet banking. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Everything you need to know about cts 2010 cheques. Replace your old cheque books the latest directive rbis says that one may not be able to use the old cheques with the implementation of the new cheque truncation system cts2010 from next year onwards. You can also update the cheque details and have track of cheques to be printed, of a selected or all banks.
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. Please note that when you receive or issue a cheque, if. Cheque book request letter format linkedin slideshare. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Instead, only the electronic images of the cheques. Request for new cheque book to make your cheques valid. To the branch manager hdfc bank, 12, manek branch, mumbai 412 201 dear sir, reg. 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 sample of a cts 2010 standard cheque format is shown below. One can find this symbol where we write amount in figures.
Sbi to send new cheque books by dec 15, update your address. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. Print cheques from the cheque printing report the cheque printing option in the banking menu enables you to print the pending, already printed or the required cheques continuously from a single screen. Format of cts2010 standard cheque book you may also consult with your bank for more clarification in this regard. You may not be able to use your old cheques from next year with the implementation of the new cheque truncation system cts2010, which will eliminate physical movement of cheques for clearing. Rrbs lax in adapting to new ctc cheque format lucknow. The reserve bank of india rbi has introduced a new format for. If the letters cts2010 are present here, your cheque book is cts2010 compliant. How to write a letter to your bank manager to request a. To change date format in boxes as per change in the new cheque format in india, goto cheque book, click on edit button. 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.
What is the format of cts2010 standard cheque book. If the above letters are present, your cheque book is cts2010 compliant 5. 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. Will the banks automatically send new cheque books or one has to ask for it. Only cts 2010 standard cheque books are to be used after. The new cts enabled cheque contains about 5 changes in the existing cheque which are described below. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. Important message cts 2010 regulation applicable to. No fresh post dated cheques pdcequated monthly installment emi cheques either in old format or new cts2010 format shall be.
A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. Come april 20 and your old cheque books from your bank account in india will become void. I have 500 cheques to get printed, how fast the printing will be. Cts 2010 standard cheques will be cleared on all working days. It looks all the current cheque books will have to be replaced. Cts2010 standard cheque introduced for standardization of security features and easy processing. The requirement is with immediate effect, because my current chequebook is running out. The deadline for switching to new format bank cheques under the cheque truncation system cts ended on wednesday.
All those who have yet to apply for the new cts2010 cheque format need to do so before marchend as all banks would necessarily adapt to the new technology of cheque truncation system. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance. Although this is the second time rbi have extended the date of implementation of cts 2010 but it is expected to be implemented soon as some banks have already started issuing cts 2010 cheques to there customers. In case you have issued non cts 2010 standard post dated cheques pdcs. Rbi extended deadline for cts 2010 standard cheques. The move to replace cheques with instruments that meet the new cheque cts. As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by. Bank customers rbi new guidelines 2019 non cts cheques stop. In case your cheque book is not cts2010 compliant, please order a new one. In fact, almost all banks have started issuing new format cheque books to customers. These cheque books will become invalid from today the sbi on friday had asked the account holders to apply for new cheque books before december 31, 2017 to avoid any inconvenience. New format cheques from jan 1 the hindu businessline. Hence, the existing clearing arrangements will continue till december 31, 20.
It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. However, most banks started issuing cts cheque books from midseptember. In lucknow, about 75% customers have already switched to the new format, but in rural areas, the number is bleak. Customers should get their old cheque books replaced with new ones conforming to cts2010 standard for cheque forms. Remember, your old cheque books from your bank account in india will become void after march 31, 20, as the rbi has instructed all banks to implement the cts across the nation. All cheques shall carry a standardised watermark, with the words cts india which can be seen when held against any light source. Issue of new cheque book dear sir, kindly send me a new chequebook issued for the savingaccount number. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. Get ready to order new india cheque books welcomenri.
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