What is a CTS compliant Cheque book?
cheque-book-cts. RBI guidelines on standardization of security features for cheque leaves, referred to as CTS-2010 are aimed at enhancing customer safety and facilitating easier processing of cheques. As per guidelines, non CTS-2010 cheques issued by bank in India will be withdrawn from circulation by March 31, 2013.
How do I know if a Cheque book is CTS compliant?
How to identify if your cheques are CTS 2010 compliant?
- Bank/branch address with IFSC code will be printed on the top left corner of the cheque.
- Standard date format.
- Printer name along with ‘CTS 2010’ printed on the extreme left of the cheque.
- Bank logo on the centre of the cheque.
Are 2010 CTS Cheques valid?
All residual non-CTS-2010 cheques with customers will continue to be valid and accepted in all clearing houses [including the Cheque Truncation System (CTS) centers] for another four months up to July 31, 2013, subject to a review in June 2013.
How do I get a CTS Cheque?
CTS-2010 shall be printed on the left side of the cheque. Write clearly and legibly and always use permanent ink pens such as a ball pen. Write all the details (beneficiary name, date, amount in words and figures) on the cheque using the same pen, at once and do it all yourself.
Does a Cheque book expire?
Technically speaking, cheques don’t have an expiry date. So if you’ve forgotten about a cheque and it’s more than six months old, the best thing to do is ask the person who gave it to you to write another.
Are non CTS Cheques still valid in 2019?
Most banks have already stopped clearing non- CTS cheques since January 1, 2019. if you are still holding a non- CTS cheque book, it is better you get it replaced from your banker. If the cheque book is not with CTS-2010 cheque leafs, they are referred to as non-CTS cheque books.
Does a cheque book expire?
What is CTS process?
Cheque Truncation System (CTS) is a process of clearing cheques electronically rather than processing the physical cheque by the presenting bank en-route to the paying bank branch. It is a step undertaken by the Reserve Bank of India (RBI) for quicker cheque clearance.
Are non-CTS cheques still valid in 2019?
Are non-CTS cheques still valid in 2020?
All banks providing cheque facility to their customers have been advised to issue only ‘CTS-2010’ standard cheques. Cheques not complying with CTS-2010 standards will not be cleared through CTS clearing (updated as on June 30, 2020).
Are non-CTS Cheques still valid in 2020?
Is your cheque book CTS-2010 compliant?
Banks would do better if they display new Cheque format in their branch. 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, 2013 onwards.
When is CTS-2010 cheque withdrawn from circulation in India?
As per guidelines, non CTS-2010 cheques issued by bank in India will be withdrawn from circulation by March 31, 2013. CTS -2010 standards cheque s issued have the following distinguishing features:
Where to find CTS compliant cheque book ICICI Bank?
The word “CTS – 2010” printed on the left side of your cheques near the perforation The branch address should be printed on the left side top corner We would like to inform you that we have been issuing CTS-2010 compliant cheque books since April 2011.
When did RBI start issuing CTS compliant cheques?
RBI today directed all banks to issue cheques conforming to CTS 2010 standard with uniform features from April 1, 2012, onwards. Cheque truncation system (CTS) refers to RBI’s plan to discontinue routing paper cheques all the way from the drawee’s bank branch to the issuers branch.