Kindly contact your nearest branch or call our customer care centre on local helpline. Simple guide for customers to identify if their cheques are cts. Such links are only provided on our website for your convenience and standard chartered bank does not control or endorse such websites, and is not responsible for their contents. Unique features, cts2010 compliance size, paper signature, date detail. Everything you need to know about cts 2010 cheques banking. 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. Reserve bank of india has issued instructions that all noncts 2010 compliant cheques will be invalid from 31st july 20. Features of new cts 2010 compliant cheque chequeman blog. A bounced cheque can hit your credit score and the issuer. Just observe if the 5 things mentioned above are visible on your existing cheque leaf or not. If you have availed a home or auto loan and issued postdated. If they are, then your cheque book is ctscompliant. Axis bank has started issuance of cts 2010 cheque book post august 2011.
Only cts 2010 standard cheque books are to be used after. 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. If your cheque placement does not look like the one in the image above and does not have cts2010 printed on it, you must do new cheque book requests from your bank quickly. Yours truly, standard chartered bank you can apply for a new cheque book through any of the following modes. Therefore, we recommend you to replace your noncts2010 cheque book with a new cheque book at the earliest. Accordingly, all banks are now issuing only cts 2010 standard cheque books to esteemed customers. What is the format of cts2010 standard cheque book. Cheque truncation system cts cheque printing software. If not, we would request you to visit your bank and apply forcollect new cts2010 standad compliant cheques for efficient banking activity. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Please note that non cts2010 standard cheques will not be valid after 31 st july 20. Go to your bank branch and request for a new cheque book or order one.
Therefore, we recommend you to replace your non cts 2010 cheque book with a new cheque book at the earliest. 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. Therefore, we recommend you to place a request for a new cheque book. Your old cheque leaves may not be valid after march 31, 20, as the rbi has instructed all banks to implement the cheque truncation system.
Please contact your home branch for replacement with cts2010 standard cheques. All cts 2010 cheques will carry a standardized watermark with the words cts india which can be seen when the cheque is held against a light source. Is your cheque book cts2010 compliant standard chartered india. In line with this, banks have been asking their customers to contact their nearest branch to collect the new cts2010compliant cheque books. Cheque truncation system new benchmark for cheques in banks.
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. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Banks, customers go slow in adopting new cheque book the. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. So, better hurry up if you havent got your old cheque books replaced with cts2010 standard cheque books.
Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Still using nonctc compliant cheques for making payments and. Please identify if your existing citibank account cheque book is cts2010 compliant. 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. The reserve bank of india rbi has introduced a new format for. Post dated cheques issued by you and due after 31st march 20, needs to replace by cts 2010 compliant cheques. The cheque truncation system cts is a process of stopping flow of physical cheque in which an electronic image of the instrument is presented when it comes. 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. The branch address should be printed on the left side top corner. 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.
Bank customers do not need to discard their noncts 2010 standard cheque books in a hurry to get their multicity cts2010 standard cheque. If you have account with union bank then better to contact them. 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. How do i order a cts2010 standard compliant cheque book. You can place a request for a new cheque book through internet banking, our 24 hour customer care or. Cts2010 standard cheques free book on indian stock market. If you are looking to write a cheque or planning to encash from april 1, 20, make sure your cheque complies with the reserve banks cheque truncation system cts 2010 standards. Change your cheque book before 31st december certified. Everything you need to know about cts 2010 cheques. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Your cheque book may be invalid from jan 1, 20 rediff. If the letters cts 2010 is printed perpendicularly along with the name of the printer, on the cheque near the perforation on the left side, it is cts 2010 compliant. Also already circulated cheques will be replaced within 31st december 2012.
For the past 6 months, rbi has been announcing several times saying noncts2010 compliant cheques would be valid up to specific period. Starting 1 august 20 only cts2010 compliant cheques would be accepted for clearing. 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. 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. You can also request for a new cheque book through dbs atm or internet banking. We would like to inform you that we have been issuing cts2010 compliant cheque books since. Branch address with ifsc code printed top of the cheque. Cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commenced in 2010. You must ensure that your cheque book is cts2010 compliant. If you have ordered your cheque books recently, say, a month. Effective december 31st, 2012 usage of non cts 2010 standard cheques would not be applicable with regard to your investments.
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. 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 non compliant one to the bank. Get ready to order new india cheque books welcomenri. In case you hold cheque books prior to august 2011, immediately replace them with cts 2010 compliant cheque books from your own branch. You can check if you hold a cts compliant cheque book by verifying if the cheque leaves have the features mentioned above. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. Noncts2010 complaint cheques valid up to jul20how does this impact you. There is a new symbol of rupees inserted near the numerical amount column.
Rbi has issued a circular telling all banks that they should only process and accept those cheques which follow cts guidelines what is cheque truncation system or cts. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. Free atm usage, cheque book, statements and direct debits. If your chequebook is not compliant with rbis cheque truncation system cts, implemented from october 1, it may be invalid from january 1, 20. Rbi had asked banks to replace noncts 2010 compliant cheque books, but most banks are understood to be going slow. All compliant cheques will have cts2010 printed on the left side of each cheque leaf. There is a new standard in banking called as cheque truncation system or cts 2010, which all the banks have to follow now.
Watch the demo video to know why the new cts system speeds up. Thus, it is considered as the major landmark in the indian banking industry. 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. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Come april 20 and your old cheque books from your bank account in india will become void. Change the way you pay your credit and debit card instore,within mobile apps or online. Important points to replace non cts2010 compliant cheques. All residual noncts2010 cheques with customers will continue to be. Cts 2010 the banks would need to upgrade a few things to. Noncts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. In the year 2010, rbi came up with the guidelines for cheque truncation system. 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. Three things to know if you still use cheques livemint. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20.
Therefore all the customers must get cts 2010 compliant cheques before the due date. No clearance of noncts compliant cheques from january. These cheques have cts 2010 printed near the left margin. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. Visibly there would be 45 key differences between the old cheques and new cts cheque truncation system cheques which can help identify whether the cheque book the individual currently holds is cts compliant or not, says diwanji.
You need to apply in your bank for the same and it is available free of cost. Privacy policy about wikipedia disclaimers contact wikipedia. Ensure you use a cts 2010compliant cheque, and know the types of cheques for different purposes and the consequences of bounced cheques. My cheque book is not cts2010 compliant, what to do. Request through online banking phone banking numbers. As per rbi guidelines, non cts 2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Only cheque books issued after aug 2011 are cts 2010 compliant. As per rbi guidelines, noncts2010 standard compliant cheques will be accepted for clearing up to july 31, 20. If the above letters are present, your cheque book is cts2010 compliant 5. This is how a standard cts2010 complaint cheque looks like. Cheque book issued prior to december 2010 is noncts compliant. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Cheque truncation system reduces the scope for clearingrelated frauds.
It might happen that your cheques start bouncing and do not get accepted from jan 1, 20. If you are still in possession of nonctc cheque books, then it is in. Following are the features of new cts 2010 compliant cheques. 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. Get ready to order new india cheque books times of. Ignore, if your cheque book is already cts 2010 standard. So it is necessary for all to understand how your new cheque format looks like. Listed below are key identification signs to confirm that the cheque book you hold is a cts2010 compliant cheque book. This year, there is something very important which you must do immediately, to ensure smooth financial transactions with your bank.
You must obtain a cts2010 compliant cheque book on or before 31st march 20. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. If you received your cheque book before august 2011, you are requested to order a new one. Please note that when you receive or issue a cheque, if. Check your current cheque book is it valid new cts. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. 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. Words cts 2010 printed on the left hand side of the cheque leaf near perforation. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. What does cts 2010 noncompliant cheque mean in icici. Get your noncts cheque book replaced immediately, it said. 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.
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