The cheque truncation system 2010 enabled cheques will not allow any alterations. Everything you need to know about cts 2010 cheques banking basics hdfc bank. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. Rupee symbol where the amount in figures needs to be written. The number 2010 in cts 2010 is because the guidelines. Please read and agree with the disclaimer before proceeding further. We would like to inform you that we have been issuing cts 2010 compliant cheque books since april 2011. Procedural guidelines for cheque truncation system cts. 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 electronically. 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. A bank logo will be on cheque with a ultra violet ink, which can be seen only under uv scanners.
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. Dec 16, 2012 cts 2010 compliant cheque will have the printer details along with the text cts 2010 printed on the extreme left hand of the cheque leaf. Dec 23, 2012 it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts 2010. 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. Click here to locate your nearest axis bank branch to locate your nearest axis. There are twelve settlements in hourly batches on week days and six settlements on saturdays. Important message cts 2010 regulation applicable to. As per rbi guideline, use of cts 2010 compliant cheque is mandatory for cheque payments from 1st april 20.
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. Noncts cheques to become invalid from january 1 goodreturns. So it is necessary for all to understand how your new cheque format looks like. After i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts 2010 one. Nov 29, 2012 please note that as per rbi guidelines, non cts2010 cheques should be withdrawn before december 31, 2012.
Cheque truncation system reduces the scope for clearingrelated frauds. It act, 2000 and the bankers book evidence bbe act, 1891, the legal framework was. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. 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. In certain instances innetwork benefits may be available for services provided by an outofnetwork covered provider when an innetwork covered provider is not available. Secondly, do you have any knowledge that the leading private banks like axis, hdfc, icici, etc have been issuing such cts 2010 compliant cheque books since 2010. Cts 2010 the banks would need to upgrade a few things to comply with 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. Dec 19, 2018 if you are still in possession 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 2010 standard cheques will be cleared on all working days. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Procedural guidelines for cheque truncation system cts version 2. For the past 6 months, rbi has been announcing several times saying non cts 2010 compliant cheques would be valid up to specific period. Cheque printing software supports all printers supports. Credit card icici mf pension retirement planning bank of india cancel sip demat account sbi mf save tax sec 80 c account balance axis bank finance planning income tax exemptions india post post office schemes reliance mf senior. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. The time taken in clearance is less and the process is even costeffective. Format of cts 2010 standard cheque book you may also consult with your bank for more clarification in this regard.
All cts2010 cheques will have a watermark with the words cts india, which can be seen against a light. Cheque truncation system cts cheque printing software. Sbi to send new cheque books by dec 15, update your address. Dec 03, 20 cts 2010 is applicable to all the banks in india, including state bank of india sbi, andhra bank, axis bank, icici bank, citibank n. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. Nov 29, 2012 after i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts 2010 one. Only cts 2010 standard cheque books are to be used after.
Incase the cheque book you currently have is not cts 2010 compliant as per the above features we request you to immediately order a new cheque book. Aug 29, 2017 reckoning with the rules adopted by sbi, since the implementation of cbs, all the cbs branches have been authorised to encash the cheques drawn by the account holder, subject to certain rulesconditions specific to individual branches. Sample old and newcts 2010 compliant cheques issued by state bank of india. The money was debited from axis bank on 11th march, but credited to yes bank only on 12th march. Punjab national bank pnb has asked its customers to get their non cts compliant cheques replaced as these instruments will not be accepted for clearance in the banking system from january. The cut off date for accepting non cts cheques has been extended till 31st july 20. 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. You may still be balanced billed for the difference between. Printing of mccs is now fully in conformity with cts 2010 standards. 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. Dec 23, 2017 tat for local cts cheque truncation system cheque clearing is next day from the date on which the cheque is presented at the bank before cut off timing cut off timing differs from bank to bank, usually cheques presented before 2. Dec 19, 2018 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. What is the format of cts 2010 standard cheque book about personal finance, banking, mutual funds and investments.
In summary, your old checks will continue to work, but it will eventually take more and more time for the clearence of the checks. 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. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. As per rbi guidelines, only cts 2010 standard cheque books are to be used after 31 december 2012.
Identify whether your existing citibank account cheque book is cts2010 compliant request for a new cheque book, if required. This article on cts cheque 2010 is for increasing public awareness and a special information for indian residents regarding cts cheque 2010. Will my old cheques that are not cts2010 still work. Also all the current circulated cheques will be replaced within 31st march, 20. Rbi extends deadline for withdrawing noncts 2010 cheques. From the clearing house, the data would goto the paying bank citibank in our example. Issue printed cheques using chequeman use chequeman to issue professionally computer printed cheques. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Even after march 31st, 20 banks will accept your non cts cheques for clearance but the processing time for non cts cheque will be higher than cts 2010 cheques.
Get your non cts cheque book replaced immediately, it said. Cheque truncation system basically helps in faster clearance of the cheques in the banking records. Axis bank has started issuance of cts 2010 cheque book post august 2011. Mar 20, 20 non cts 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, will be banned from now wherever electronic. Cts 2010 the banks would need to upgrade a few things to comply with cts 2010 standards of rbi. Therefore, non cts cheque would take more time to clear. 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.
Thus, it is considered as the major landmark in the indian banking industry. 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. Cheque forms known as cts 2010 as per rbi circular dated 22nd february 2010. Click here to locate your nearest axis bank branch to locate your nearest axis bank branch f. If you have taken home loan, personal loan or consumer loan for any electronics purchased, this deadline would have an.
The benchmark prescriptions are collectively known as cts 2010 standard. However, banks may continue to follow their existing policy regarding cheque book issuance for additional issuance of cheques, in adherence to their accepted fair practices code. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. Nov 07, 20 cheque print is easy to use, which allow to print cheque with any printer with unlimited print logs. Cts2010 is applicable to all the banks in india, including state bank of india sbi, andhra bank, axis bank, icici bank, citibank n.
Best selling records in us, canada, france, india, germany, italy, japan, uk, aus and many. If these features are present in your cheque book, it is a cts compliant one. You must obtain a cts2010 compliant cheque book on or before 31st march 20. The branch address and ifsc code should be on the top left side of the cheque 2. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. 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. I hope you are clear about cheque truncation system cts and how your cheques will become invalid from jan 1,20. My cheque book is not cts 2010 compliant, what to do. Identify whether your existing bank accounts cheque books are cts 2010 compliant.
What is the format of cts2010 standard cheque book. Watermark cts india to be visible cheque is held against any light. One of the readers of moneylife deposited a cts compliant cheque in yes bank drawn on axis bank his own account on 10th march. Rbi extended deadline for cts 2010 standard cheques. It is smart, accurate, errorfree and most importantly is efficient. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for faster clearing of cheques. At your request, you are being redirected to a third party site.
Banks shall not charge their savings bank account customers for issuance of cts 2010 standard cheques when they are issued for the first time. 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. Post dated cheques issued by you and due after 31st march 20, needs to replace by cts 2010 compliant cheques. Cheque printer details along with cts2010 mentioned on the extreme left hand side, near the side where you detach a cheque leaf from the cheque book. Void pantograph just below where the account number is mentioned. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. Please sign above is mentioned on bottom right of the cheque. You can now print your cheque in cts 2010 with out any worries.
First and foremost, many thanks goes to axis bank, india for providing helpful information. 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. Features of cts2010 standard chequects cheque truncation. According to 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.
Everything you need to know about cts 2010 cheques. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features. Noncts2010 complaint cheques valid up to jul20how does. Please ensure that the cheque used has cts 2010 imprinted on the left and it is not a postdated cheque. Cheque book issuance charges make quick and easy cheque book requests. Rbi has extended deadline for the implementation of cts 2010 to make banks and customers prepare for the same. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i.
In case you hold cheque books prior to august 2011, immediately. All banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. 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. Also already circulated cheques will be replaced within 31st december 2012. Jan 01, 20 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. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. Drop boxes are available at axis bank loan centres or axis bank branches for cheque payments. Banks like icici bank and axis bank had already started issuing cts2010 compliant cheque books since last year.
Banks logo and details on the left hand side corner. Similarly, he deposited a cts compliant cheque in yes bank drawn on bank of maharashtra again his own account on 12th. After announcing the implementation of cheque truncation system cts, the state bank of india sbi has asked its customers to update their mailing address. If you are still in use of nonctc cheque books, then it is in your own interest to get those replaced with cts2010 standard cheque books latest by december 31. Easy access savings account easy access salary account womans savings account future stars account. My cheque book is not cts2010 compliant, what to do. These features are aimed at enhancing customer safety and facilitating easier processing of cheques. You need to apply in your bank for the same and it is available free of cost. Identify whether your existing citibank account cheque book is 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. This is to inform you that by clicking on the hyperlinkok, you will be accessing a website operated by a third party namely such links are provided only for the convenience of the client and axis bank does not control or endorse such websites, and is not.
You can now print your cheque in cts 2010 without any worries. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. If you are still in possession 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. 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. Everything you need to know about cts 2010 cheques banking. And the customers to this respect have been asked to get their non cts cheque book replaced and instead get the new cts 2010 standard chequebook for free. All the 14 lcpcs are printing and issuing mccs in respect of branches linked to them.
Chequeman cheque printing software with free trial. How to identify my cheque book cts2010 standard compliant or. Jun 25, 20 non cts 2010 complaint cheques valid up to jul20how does this impact you. 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. Only cts 2010 standard cheque books are to be used after 31. It is printed on standard cheque leaves provided by banks using any standard laser or inkjet printer. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010.
The sample of a cts 2010 standard cheque format is shown below. In the year 2010, rbi came up with the guidelines for cheque truncation system. Reserve bank of india has issued guidelines on standardisation and enhancement of security features for cheque leaves referred to as cts 2010. Yesterday iam receiving a axis bank post dated 20012017 non cts cheque. Sep 14, 2015 the number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. 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. Printers name with cts 2010 in left side of cheque. Please surrender your unused non cts cheques at your branch and obtain new cts 2010 standard cheque book. Non cts cheques may face further clearance delay from may 1. Cheque printing software follows cts 2010 cheque format.
In cheque truncation, the movement of the physical instrument is stopped and replaced by electronic images and associated micr line of the cheque. Are local cheques presented and cleared on the same day in. 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. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Go to your bank branch and request for a new cheque book or order one. If you are still in use of nonctc cheque books, then it is in your own interest to get those. Non cts2010 complaint cheques valid up to jul20how does this impact you. Krishna has collected cts2010 standard and old bank cheques of india of. Noncts cheques may face further clearance delay from may. We are glad to inform that axis bank has started issuance of cts 2010 cheque book post august 2011. So, better not to waste much time and get your new cheque books soon from your bank. Words cts 2010 printed on the left hand side of the cheque leaf near perforation. 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.
Cheque truncation system new benchmark for cheques in banks. The number of cheque leaves in the multi city payable at par cts 2010 standard cheque books will be as under. Does your software supports cts 2010 cheque formats. In case you hold cheque books prior to august 2011, request you to immediately replace them with cts 2010 compliant cheque books.
496 703 497 1339 576 271 777 83 291 432 576 786 766 857 599 111 795 873 436 931 953 924 447 415 1028 1046 547 1454 1355 1164 666 1279 683 1102