Cts 2010 cheque book sbi

If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. Cheque truncation system cts 2010 standards bankbazaar. Cts2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. A ptireport said that the move is part of the effort for standardising and enhancing the security features in cheque forms and its migration to the cts cheque truncation system 2010 standard. Cheque book issued prior to december 2010 is non cts compliant. 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 cheque clearing times. The logo is at the center of the cheque and can be visible in ultra violetenabled scanners lamps. No longer will you be able to use noncts cheques and sbi customers will not be able to do so from december 12, while other bank customers will not be able. Yes, as per the 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 move to replace cheques with instruments that meet the new cheque cts. Printing of mccs is now fully in conformity with cts 2010 standards.

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. A majority of banks, including sbi and pnb, have already informed their. Cts 2010 standard cheque introduced for standardization of security features and easy processing. Only cts 2010 standard cheque books are to be used after. 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.

Check your current cheque book is it valid new cts. The measure is primarily aimed at serving duel objectives. It might happen that your cheque s start bouncing and do not get accepted from jan 1, 20. You can opt for cheque books with 25, 50 or 100 cheque leaves.

Sbi to introduce new cheque standard from jan 1 dumisoft. The sample of a cts 2010 standard cheque format is shown below. In case if your cts 2010 cheque book, you must obtain a new cts complied cheque book. Cheque truncation system new benchmark for cheques in banks. Cheque book can be requested for any of your savings, current, cash credit, and over draft accounts. Format of cts2010 standard cheque book you may also consult with your bank for more clarification in this regard. I enquired with sbt whether to change my holding cheque book to obtain the new cts 2010. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. Sbi to send new cheque books by dec 15, update your address. This system is followed for clearing cheques in an errorfree, fast and hasslefree manner. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. You must have seen following advertisementnotice given by sbi in local newspapers.

You must obtain a cts2010 compliant cheque book on or before 31st march 20. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. All branches of the bank will now issue only cts 2010 standard cheques to customers, sbi said in a public notice today. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of july 31, 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc. Non cts cheque book will not accept, sbi cheque book rule. 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. The banks logo will ideally be in a type of invisible ink. Its all about cts 2010 new cheque truncation system. All the 14 lcpcs are printing and issuing mccs in respect of branches linked to them. You need to apply in your bank for the same and it is available free of cost. Sbi is issuing new cheque books which conform to the standards of cts 2010 cheque truncation system to all its customers. 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.

Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 07. In this cheque truncation system cts, sbi branch will not send the paper cheque to the clearing house, but instead, itd merely scan the cheque, and electronically send. Many banks have still not asked their customers to surrender the non cts 2010 cheque books to reflect the change, a crosssection of bankers told. Identify whether your existing bank accounts cheque books are 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 cts 2010 standard cheques with cts 2010 standard cheques. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. 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.

Simple guide for customers to identify if their cheques are cts. So, better not to waste much time and get your new cheque books soon from your bank. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. You can opt to get the cheque book delivered at your registered address or you can provide. Panama jit final report volii statements of witnesses. The number of cheque leaves in the multi city payable at par cts 2010 standard cheque books will be as under. What is the format of cts2010 standard cheque book. Cts 2010 standard cheques will have letters cts 2010 printed vertically on the cheque leaf near the perforation on the left side as shown in the image below.

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. 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. Noncts cheques may face further clearance delay from may. The cts 2010 cheque has banks logo printed with invisible ultra violet ink. You can either collect it from branch or request your branch to send it by post or courier. 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 leafs. 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. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. The branch address and ifsc code should be on the top left side of the cheque 2. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. 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. Cts2010 standard cheque introduced for standardization of security features and easy processing.

Watch the demo video to know why the new cts system speeds up cheque. My cheque book is not cts2010 compliant, what to do. Cheque truncation system change looks good goodmoneying. This means that there will be no physical movement of the cheque but rather an.

What has been orally informed is that so long the details relaing to the ac no. As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by 31st march 20. 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. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. Therefore, we recommend you to place a request for a new cheque book. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. 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 word cts 2010 must be printed on the left hand side of the cheque near perforation. Cts 2010 standard cheques will be cleared on all working days. So, better hurry up if you havent got your old cheque books replaced with cts 2010 standard cheque books.

You can now print your cheque in cts 2010 with out any worries. Sbi is arranging to send these new series of cheque books to its customers at their last recorded address. 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 your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Jan 12, 20 8 boxes to write the date in ddmmyyy format. If you have availed a home or auto loan and issued postdated. Everything you need to know about cts 2010 cheques banking. Important message cts 2010 regulation applicable to. Rbi has issued guidelines that all banks must strictly use cheque truncation system cts 2010 compliant cheques which are difficult to duplicate. The ifsc code is generally printed on the top of the cheque leaf. The following are the features of cts 2010 cheques. And you must do it latest by december 31, 2018, if you dont want your cheques to. A reproduction of the sample cheque available on rbis website. It has issued a public notice saying that starting january 1, 20, bank will not accept cheques that do not conform to the new standards.

Everything you need to know about cts 2010 cheques. If you are still in use of nonctc cheque books, then it is in your own interest to get those. Cheque book issued prior to december 2010 is noncts compliant. Go to your bank branch and request for a new cheque book or order one. 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 books latest by december 31. Cheque truncation system, abbreviated as cts, is nothing but an electronic verification procedure using imagebased processing. As per rbi guidelines, after march 31, 20, non cts 2010 standard compliant cheques will still be accepted for clearing but will be cleared at less frequent intervals.

Change your cheque book before 31st december certified. Cheque books not containing cts2010 cheque leafs are called. Hence, the existing customers are now required to surrender their existing cheque book and ask for cts 2010 benchmarked cheques. In an official notice on its website, hdfc bank says separate sessions for clearing of noncts cheque will be discontinued from december 31. Android hindi news app, ios hindi news app amarujala hindi news app. 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. Speed clearing system is applicable for both cts2010 grid based clearing system and noncts clearing system.