Sbi, hdfc, pnb, icici, bob, other bank customers these to become invalid noncts cheques used by customers of all banks including state bank of india sbi, hdfc bank, icici bank, bank of baroda, punjab national bank and others will become invalid from january 1. This article on cts cheque 2010 is for increasing public awareness and a special information for indian residents regarding cts cheque. Non cts cheques may face further clearance delay from may 1. Those who have given noncts2010 cheques for paying their car or home loan emis must resubmit cts2010 standards cheques before. Cts2010 cheques have certain common security features and. Go to your bank branch and request for a new cheque book or order one online. We would like to bring to your notice that reserve bank of india rbi has further updated its guidelines on standardisation of security features for cheque leaves referred to as cts2010. You must obtain a cts2010 compliant cheque book on or before 31st march 20. As per guidelines, non cts2010 cheques issued by bank in india will be withdrawn from circulation by march 31, 20. The number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. Many banks have still not asked their customers to surrender the noncts 2010 cheque books to reflect the change, a crosssection of bankers.
As per rbi guidelines, noncts2010 standard compliant cheques will be accepted for clearing up to july 31, 20. No noncts2010 cheques will be encashed after this date. Chequetruncation means stopping the flow of the physical cheque. Standardization and enhancement of security features in. Words cts2010 printed on the left hand side of the cheque leaf near perforation. When a cheque is not crossed, it is known as an open cheque or an uncrossed cheque. 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. The clearing timings of noncts session are covered in annex xb 1. If your cheques are not cts 2010 complaint, there can realisation delays, as they will be cleared at less frequent intervals. This video explains the validity period of cheque and amount of cheque. Hdfc bank has stated that cheques issued prior to august 2011 will not be valid. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of 31 july. The branch address and ifsc code should be on the top left side of the cheque 2.
Noncts cheques may face further clearance delay from may. 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. Everything you need to know about cts 2010 cheques banking. It is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant.
Simply put, a cts2010 cheque will not have to go through the. 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. All the cts2010 cheque should be clean, image friendly and over writing is not accepted because the cheque will be cleared through image based clearing system. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Cheques with alterationcorrections will not be honoured from 01. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Noncts cheques valid till 31 july rbi india infoline. If these features are present in your cheque book, it is a cts compliant one. A dishonour, whether based on a second or any successive presentation of a cheque for encashment, would be a dishonour within the meaning of section 8, msr leathers v. Customers should make note of the above guideline while depositing the cheque as the noncts 2010 instruments will be credited debited to accounts as per the schedule mentioned above. Also all the current circulated cheques will be replaced within 31st march, 20. Watermark cts india to be visible cheque is held against any light.
Cts2010 is a benchmark for standardization of cheques issued by banks across the country. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. Now, old cheque is valid up to july 31 goodreturns. The number of cheque leaves in the multi city payable at par cts2010 standard cheque books will be as under. Cheque book issued prior to december 2010 is noncts compliant savings treasure accounts. Non cts cheque bounce and validity in 2016 answered by expert chequebounce lawyer. Noncts cheques may face further clearance delay from may 1. Noncts cheques valid till 31 july rbi the rbi has also said the system of post dated cheques and payment via emi, in either the old or new format. Non cts compliant cheques cheques not compliant to the cheque truncation systemcts 2010 standards will be cleared thrice a week only, until 30 april, 2014. For example, cheques of all banks would have the watermark at the centre of the cheque. Check your current cheque book is it valid new cts. Sbi, hdfc, pnb, icici, bob, other bank customers these to become invalid non cts cheques used by customers of all banks including state bank of india sbi, hdfc bank, icici bank, bank of baroda, punjab national bank and others will become invalid from january 1. A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. However effective january 1, 2014, there would be likely delay in realisation of such noncts 2010 standard cheques, as these.
Non cts cheque book issue bank can payment non cts cheque. Enhancement of security features in cheque forms migrating to cts 2010 standards as covered in annex xa and other circulars from time to time. Sbi is arranging to send these new series of cheque books to its. Cheque frauds can be greatly reduced with introduction of minimum security features prescribed under cts standards 2010, such as.
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. The query has to be looked into reckoning two scenarios. Important notification from rbi regarding cts2010 standard cheques. You need to apply in your bank for the same and it is available free of cost. Standardization and enhancement of security features in cheque formsmigrating to cts 2010 standards please refer to the instructions contained in our circular no. Punjab national bank pnb has asked its customers to get their noncts compliant cheques replaced as these instruments will not be accepted for clearance in the banking system from january. Get your noncts cheque book replaced immediately, it said. Standardisation and enhancement of security features in. This means if you are still holding a noncts cheque book, your cheques will. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of 31 july. These cheques have cts 2010 printed near the left margin.
So, the validity of non cts cheques is again extended, this time upto 30th april 2014. The holder or payee of the cheque may present the cheque for encashment on any number of occasions within the period of its validity three months from the date of issue. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. What does cts 2010 noncompliant cheque mean in icici. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Branches may issue a cheque book of 10 leaves, if a customer demands the. 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. Jan 12, 20 8 boxes to write the date in ddmmyyy format.
Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant. 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. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. 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. First and foremost, many thanks goes to axis bank, india for providing helpful information. If you are still in possession of non ctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. As per the revised guidelines of rbi the validity of non cts compliant cheques have been extended till 31st a july 20. So it is necessary for all to understand how your new cheque format looks like. 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. 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. The reserve bank of india has extended validity of old cheque book non cts2010 standard up to july 31, 20.
Currently, noncts cheques are processed once in a week i. 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. These cheques may be cashed at any bank and the payment of these. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features.
If the above letters are present, your cheque book is cts2010 compliant 5. Please sign above is mentioned on bottom right of the cheque. If you havent switched to cts cheques, you have 4 more months. Noncts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. As banks are advised to comply with cts2010 standard and security printers also do not print noncts cheques, the number of noncts cheques are declining continuously. Cheques with alterationcorrections will not be honoured. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010.
If you have any postdated cheque for a datemonth after 1 january 20, ask the personinstitution concerned to issue a cts 2010 cheque, as the old one will not be valid after 31 december. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of 31 july 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc, rbi said. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. A new circular, dated 26 june 2018, has been issued by reserve bank of indiarbi to all the banks regarding processing of noncts cheques.
Will my old cheques that are not cts2010 still work. Procedural guidelines for cheque truncation system cts. 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 main feature of cts2010 cheques is that a cheque can be cleared electronically. 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.
As per the recent rbi guidelines, checks which are not as per the cts2010 standards will continue to be valid and accepted. Rbis new circular for noncts cheques june 2018 youths area. How to identify my cheque book cts2010 standard compliant. 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. Also already circulated cheques will be replaced within 31st december 2012. Payable at par cts 2010 standard cheque books no cheque books no cheque book issued to junior sb accounts however issue of cheque books to other type of operative account, will be done after considering factors like previous transactions, cheque return and unused cheques available in the account etc.