Please note that when you receive or issue a cheque, if. 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. Does your software supports cts 2010 cheque formats. So please verify whether cheque book you have a already cts2010 before rushing to bank to get a new one. 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 move to replace cheques with instruments that meet the new cheque cts. Does your software supports cts2010 cheque formats. 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. You can now print your cheque in cts2010 without any worries. Instruments not complying with cts2010 standards will continue be accepted but will be cleared at less frequent intervals. Features of cts2010 standard chequects cheque truncation system 6222014 01. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. 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. To verify if your cheque will hold true post december 2012, check for the following two features on cheque, if they are present, you dont need to worry, if not, order your new cheque book varies from bank to bank.
The sample of a cts 2010 standard cheque format is shown below. Cts2010 standard cheque introduced for standardization of security features and. 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. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. 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. Cheques not complying with cts2010 standards will be cleared at less frequent intervals i.
Also all the current circulated cheques will be replaced within 31st march, 20. 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. 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. Will my old cheques that are not cts2010 still work. Cts 2010 standard has introduced new security and format features in cheques, including popular micr code. Light pastel colours shall be mandated for cheques so that print dynamic contrast ratio pcr dcr is more than 60% for ensuring. Cheque printing software supports all printers supports. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts. Aug 31, 2015 a sample video that demonstrate live cts cheque scanning in branch. Therefore, we recommend you to place a request for a new cheque book. Standardisation and enhancement of security features in cheque forms, the introduction and implementation of additional security features on cheque forms will commence from 1. Also already circulated cheques will be replaced within 31st december 2012. 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.
When a cheque is not crossed, it is known as an open cheque or an uncrossed cheque. What is bearer cheque, order cheque, crossed cheque, open. Nov 21, 2012 if you have your cheque book issued before aug 2011, then you need to get a new cheque book to be used after 31 dec 2012. 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. 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. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. What does cts 2010 noncompliant cheque mean in icici. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. May 09, 2020 rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. With this, the bank will not accept all noncts cheques that you issue from your existing cheque book and those will be out of circulation from. Clearing sessions for noncts 2010 instruments will run once a week on every monday, from 1st nov, 2014 onwards.
Format of cts2010 standard cheque book you may also consult with your bank for more clarification in this regard. As per rbi guidelines, after march 31, 20, noncts2010 standard compliant cheques will still be accepted for clearing but will be cleared at less. These cheques have cts 2010 printed near the left margin. As per rbi guidelines, only cts 2010 standard cheque books are to be used after 31 december 2012. No fresh post dated cheques pdcequated monthly installment emi cheques either in old format or new cts2010 format shall be. The clearing timings of noncts session are covered in annex xb 1. Cts2010 standard cheques free book on indian stock market. Only cts 2010 standard cheque books are to be used after. Oct 25, 2012 cts 2010 standard has introduced new security and format features in cheques, including popular micr code. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. When a customer deposits a cts2010complied cheque, the bank can. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. Axis bank has started issuance of cts 2010 cheque book post august 2011.
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. Use of dark colored ink to write or print on cheques. 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. In case you hold cheque books prior to august 2011, immediately replace them with cts 2010 compliant cheque books from your own branch. However, most banks started issuing cts cheque books from midseptember. A sample video that demonstrate live cts cheque scanning in branch. Sep 14, 2015 instruments not complying with cts2010 standards will continue be accepted but will be cleared at less frequent intervals.
As per the direction of reserve bank of india rbi, non cts 2010 cheques will be withdrawn by. Identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required. Clearing sessions for non cts 2010 instruments will run once a week on every monday, from 1st nov, 2014 onwards. What is the format of cts2010 standard cheque book. 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. Cheques are still the prominent mode of payment in the country. One should be using cts 2010 compliant cheques issued by bank from 1st april 20. My cheque book is not cts 2010 compliant, what to do. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. 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. Cheque truncation system cts cheque printing software.
Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. 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. Cts 2010 standard cheque introduced for standardization of security features and easy processing. New format cheques from jan 1 the hindu businessline.
A sample cheque with recommended field placements is placed at 4 below. You need to apply in your bank for the same and it is available free of cost. Procedural guidelines for cheque truncation system cts. Its all about cts 2010 new cheque truncation system.
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. The cut off date for accepting non cts cheques has been extended till 31st july 20. Thus, it is considered as the major landmark in the indian banking industry. Identify whether your existing citibank account cheque book is cts 2010 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 non cts2010 standard cheques with cts2010 standard cheques. Cts 2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. Following are the points to be remembered while shifting to the 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. The benchmark prescriptions are collectively known as cts2010 standard. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi.
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. Nov 22, 2012 this new cheque clearing system will be applicable from 1 st january,20. 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. 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. Please surrender your unused non cts cheques at your branch and obtain new cts 2010 standard cheque book. Noncts2010 complaint cheques valid up to jul20how does this impact you. You must ensure that your cheque book is cts2010 compliant. And the customers to this respect have been asked to get their noncts cheque book replaced and instead get the new cts2010 standard chequebook for free. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. 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.
The presenting bank captures the cheque images and magnetic ink charecter recognition micr data from end to end precise scanners by using the capture. Most banks are now issuing cts cheque truncation system 2010 cheque books only. Instruments not complying with cts 2010 standards will continue be accepted but will be cleared at less frequent intervals. Customers should get their old cheque books replaced with new ones conforming to cts2010 standard for cheque forms. Cts 2010 standard and old bank cheques of india cts 2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. The branch address and ifsc code should be on the top left side of the cheque 2. Go to your bank branch and request for a new cheque book or order one. Cheque printing software follows cts 2010 cheque format. If the letters cts2010 are present here, your cheque book is cts2010. Enhancement of security features in cheque forms migrating to cts 2010 standards as covered in annex xa and other circulars from time to time. One can find this symbol where we write amount in figures. Older cheque leaf to outdate on dec 31, 2012 cts 2010. 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. 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.
You may also consult with your bank for more clarification in this regard. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. You can now print your cheque in cts 2010 without any worries. Jan 01, 20 post dated cheques issued by you and due after 31st march 20, needs to replace by cts 2010 compliant cheques. Cheque truncation system new benchmark for cheques in banks. Jan 12, 20 8 boxes to write the date in ddmmyyy format.
You can see some of the features to identify if you have a cts 2010. Dec 16, 2012 cts 2010 compliant cheque will have the printer details along with the text cts 2010 printed on the extreme left hand of the cheque leaf. 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. My cheque book is not cts2010 compliant, what to do. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Everything you need to know about cts 2010 cheques banking. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. This year, there is something very important which you must do immediately, to ensure smooth financial transactions with your bank. According to new guidelines provided by rbi reserve bank of india all indian banks should follow cts2010 cheque formats, and virtual splat has already taken care about this rule.
For the past 6 months, rbi has been announcing several times saying noncts2010 compliant cheques would be valid up to specific period. You can see some of the features to identify if you have a cts2010. 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. So it is necessary for all to understand how your new cheque format looks like. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. If you have availed a home or auto loan and issued postdated. 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. With this, the bank will not accept all non cts cheques that you issue from your existing cheque book and those will be out of circulation from december 31, 2012.
First and foremost, many thanks goes to axis bank, india for. Features of cts2010 standard chequects cheque truncation. This new cheque clearing system will be applicable from 1 st january,20. The deadline for new cheques under the cheque truncation system cts2010 has been extended till 31 march 20 by the rbi. 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. If you have your cheque book issued before aug 2011, then you need to get a new cheque book to be used after 31 dec 2012. To change the cheque dimensions, you can click and drag the borders of the cheque.
However some of the features of cts cheques are cheque printer details. After i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was. 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. The cheque truncation system cts is basically an online imagebased clearing system ics. 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. Check your current cheque book is it valid new cts. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. All banks providing cheque facility to their customers have been advised to issue only cts2010 standard cheques. A reproduction of the sample cheque available on rbis website.
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