Sample layout of the cheque leaflet as mandated by the rbi. Cts 2010 standard cheque introduced for standardization of security features and. If you are still in use of nonctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. 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. Procedural guidelines for cheque truncation system cts. If you have availed a home or auto loan and issued postdated. If yes, then you have to ask your bank to issue a cts 2010 cheque book soon. 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. Noncts cheque book will not be get cleared after sep20. Request you to make a note that noncts compliant cheques would. State bank of india is undoubtedly the largest and most trusted bank in india. The policy takes adequate care to ensure that the interests of small depositors are fully protected and is in line with the ibas model policy on collection of cheques.
One can find this symbol where we write amount in figures. In an official notice on its website, hdfc bank says separate sessions for clearing of non cts cheque will be discontinued from december 31. Also already circulated cheques will be replaced within 31st december 2012. Cheque truncation system new benchmark for cheques in banks. You can opt to get the cheque book delivered at your registered address or you can provide. Now sbi customers can request cheque book through sms. Those who have given non cts 2010 cheques for paying their car or home loan emis must resubmit cts 2010 standards cheques before the above mentioned date or switch to electronic clearing systemecs. The reserve bank of india on thursday said that cts, will be made operational pan india by september 2020.
Request letter to bank for issuing new cheque book sample. You can opt to get the cheque book delivered at your registered address or you can enter a new address. The move to replace cheques with instruments that meet the new cheque cts. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Cheque truncation implies stopping the physical flow of cheque. So, better not to waste much time and get your new cheque books soon from your bank. So it is necessary for all to understand how your new cheque format looks. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. A cheque is used to withdraw money from a bank account for making various payments. Select the post or courier option if you wish sbh to send the cheque book. Under the old paper cheque based clearing, the sbi bank will send the paper cheque to the clearing house and get the money and then transfer it to your account.
Get your non cts cheque book replaced immediately, it said. Just send an sms from your registered mobile number to apply cheque book without visiting branch. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. You can also request for a new cheque book through dbs atm or internet banking. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Cheque truncation system cts is an imagebased cheque clearing system implemented by all banks in singapore for sgd and usd cheques. New cheque books can be requested by submitting request through application at the branches of your bank or some of the banks are providing online options for requesting cheque book options, its much easier and saves time for a customer. If you are still in use of nonctc cheque books, then it is in your own. All cheques currently with customers in the old format non cheque truncation system will continue to be valid for another four months the earlier deadline. When you are physically going to the banks branch for submitting a request for new cheque book, some banks. Check your current cheque book is it valid new cts. The state bank of india, for instance, has put a notice on its website which says, as per rbi directives, periodicity for processing non cts cheques in cts clearing has been reduced to once. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. It act, 2000 and the bankers book evidence bbe act, 1891, the legal framework was put in place for the introduction of cheque truncation and echeques in india.
No longer will you be able to use non cts cheques and sbi customers will not be able to do so from december 12, while other bank customers will not be able to use non cts cheques from january 1. Sbi to send new cheque books by dec 15, update your address after announcing the implementation of cheque truncation system cts, the state bank of india sbi has asked its customers to update. Instead of manually transferring cheque from one branch to other branch, under cts the image captured of cheque along with micr will be passed on by the drawer branch to the. Sbi to send new cheque books by dec 15, update your address. Indias largest lender the state bank of india sbi will implement the cheque truncation system cts 2010, the new standard of cheques as mandated by the reserve bank of india.
Cts 2010 standar cheque cts 2010 non sbi state bank of india sbt state bank of trvancore canara bank hdfc bank federal bank new cheques old cheques india city bank indusind bank karur vysya. Go to your bank branch and request for a new cheque book or order one online. Sbi has already told all its customers to get new cheques because all the old cheques will become invalid, in the. No non cts 2010 cheques will be encashed after this date. Android hindi news app, ios hindi news app amarujala hindi news app. In order to comply cts standards, your name and account number should be printed on your cheque book. Only cts 2010 standard cheque books are to be used after.
Watch the demo video to know why the new cts system speeds up cheque. Be it saving bank account or current account or overdraft account, you can apply cheque book online and get it delivered to your home address within 3 days of applying. You can opt for cheque books with 25, 50 or 100 cheque leaves. You can either collect it from branch or request your branch to send it by post or courier. 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. Cheque book can be requested for any of your savings, current, cash credit, and over draft accounts. 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.
Figure 1 shows sample settings to receive the cheque at your registered address. You just need to register your mobile number with bank. Sbi customers can deposit their non cts cheque in their respective branch and get free new cts 2010 standard chequebook. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. If you are an account holder of sbi s erstwhile six associate banks including bharatiya mahila bank, your cheque books will become invalid from december 31. Cts cheque truncation system cif customer information file. Can i deposit a non cts cheque in a home branch for clearing. Can i request for an urgent cheque book issue in sbi. Rbi extends deadline for withdrawing noncts 2010 cheques. Sbi is arranging to send these new series of cheque books to its customers. Below is a sample of cheque which fulfil cts criterias. 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.
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. Indian bank charges rupees thirty for one cts2010 cheque book. Know about deadline, process, benefits of issuing cts cheque book 2010 with sample cheque. So it is necessary for all to understand how your new cheque format looks like. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi.
According to the requirement, the applicant can select for any of the 3 options to get a cheque book from sbi. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. 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. Banks provide a booklet of cheques to serve this purpose. December 31st is the last day of using non cts cheques for account holders of all banks including sbi state bank of india.
People who fail to get their old cheques replaced by december 31, 2018, wouldnt be able to get their cheques cleared as separate fortnightly clearing for non cts cheques would be discontinued after december 31, 2018, as mandated by the rbi. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. Mcc cheque books will be dispatched to the customers on their last recorded address. Everything you need to know about cts 2010 cheques.
Sbi sms banking facility available for all customers to access various services without bank visit. Non cts cheque book will not accept, sbi cheque book rule. It provides its account holders with a variety of banking products and options. Non cts cheque book will not be get cleared after sep20.
Bank customers rbi new guidelines 2019 non cts cheques stop. With cts, the cheque will be scanned upon deposit and its electronic image, instead of the physical cheque, will be transmitted throughout the entire clearing cycle. 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. Sbi has already told all its customers to get new cheques because all the old cheques will become invalid, in the same way hdfc bank and icici bank have also told their customers to get new cheque books. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. Instead of manually transferring cheque from one branch to other branch, under cts the image captured of cheque. 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.
No clearance of noncts compliant cheques from january. 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. 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. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. Similarly, in september this year, punjab national bank pnb had asked its. This post provides detailed information on how to apply for cheque book online.
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