Cts 2010 cheque book sbi

All branches of the bank will now issue only cts 2010 standard cheques to customers, sbi said in a public notice today. 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. So, better hurry up if you havent got your old cheque books replaced with cts 2010 standard cheque books. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Cheque book can be requested for any of your savings, current, cash credit, and over draft accounts. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. 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. There is a new standard in banking called as cheque truncation system or cts 2010, which all the banks have to follow now.

Sbi is issuing new cheque books which conform to the standards of cts 2010 cheque truncation system to all its customers. The number of cheque leaves in the multi city payable at par cts 2010 standard cheque books will be as under. Cheque book issued prior to december 2010 is noncts compliant. Panama jit final report volii statements of witnesses. Non cts cheque book will not accept, sbi cheque book rule. Check your current cheque book is it valid new cts. You need to apply in your bank for the same and it is available free of cost. 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. Everything you need to know about cts 2010 cheques banking. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. 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.

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. Format of cts2010 standard cheque book you may also consult with your bank for more clarification in this regard. The ifsc code is generally printed on the top of the cheque leaf. 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. You can either collect it from branch or request your branch to send it by post or courier. Sbi to introduce new cheque standard from jan 1 dumisoft. 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. Only cts 2010 standard cheque books are to be used after. You can opt for cheque books with 25, 50 or 100 cheque leaves.

It might happen that your cheque s start bouncing and do not get accepted from jan 1, 20. The logo is at the center of the cheque and can be visible in ultra violetenabled scanners lamps. Cts2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. 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. The word cts 2010 must be printed on the left hand side of the cheque near perforation. Noncts cheques may face further clearance delay from may. Cheque truncation system new benchmark for cheques in banks. Cts 2010 standard cheques will be cleared on all working days. 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. The banks logo will ideally be in a type of invisible ink. The measure is primarily aimed at serving duel objectives. Punjab national bank this eliminates the cost of movement of physical cheques and reduces the time for clearance for better delivery of services to customers. Printing of mccs is now fully in conformity with cts 2010 standards.

Cts 2010 standard cheque introduced for standardization of security features and easy processing. Important message cts 2010 regulation applicable to. 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. Therefore, we recommend you to place a request for a new cheque book. 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. Simple guide for customers to identify if their cheques are cts. Cheque truncation system, abbreviated as cts, is nothing but an electronic verification procedure using imagebased processing. 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. The branch address and ifsc code should be on the top left side of the cheque 2. You must obtain a cts2010 compliant cheque book on or before 31st march 20. I enquired with sbt whether to change my holding cheque book to obtain the new cts 2010.

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. 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. Hence, the existing customers are now required to surrender their existing cheque book and ask for cts 2010 benchmarked cheques. Android hindi news app, ios hindi news app amarujala hindi news app. Cheque books not containing cts2010 cheque leafs are called. Watch the demo video to know why the new cts system speeds up cheque.

Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. 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. The following are the features of cts 2010 cheques. Sbi is arranging to send these new series of cheque books to its customers at their last recorded address. As per the direction of reserve bank of india rbi, non cts2010 cheques will be withdrawn by 31st march 20. What has been orally informed is that so long the details relaing to the ac no. This system is followed for clearing cheques in an errorfree, fast and hasslefree manner. You can opt to get the cheque book delivered at your registered address or you can provide. The cts 2010 cheque has banks logo printed with invisible ultra violet ink. 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 book issued prior to december 2010 is non cts compliant. If you are still in use of nonctc cheque books, then it is in your own interest to get those. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience.

In case if your cts 2010 cheque book, you must obtain a new cts complied cheque book. Its all about cts 2010 new cheque truncation system. 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. My cheque book is not cts2010 compliant, what to do. 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. You can now print your cheque in cts 2010 with out any worries. Cheque truncation system cts 2010 standards bankbazaar. This means that there will be no physical movement of the cheque but rather an. Watch the demo video to know why the new cts system speeds up cheque clearing times. The move to replace cheques with instruments that meet the new cheque cts. Sbi to send new cheque books by dec 15, update your address. Rbi has issued guidelines that all banks must strictly use cheque truncation system cts 2010 compliant cheques which are difficult to duplicate. 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.

Cheque truncation system change looks good goodmoneying. 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. 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. 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. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. Will my old cheques that are not cts2010 still work.

It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 07. A reproduction of the sample cheque available on rbis website. The sample of a cts 2010 standard cheque format is shown below. A majority of banks, including sbi and pnb, have already informed their. Change your cheque book before 31st december certified. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. Go to your bank branch and request for a new cheque book or order one. In an official notice on its website, hdfc bank says separate sessions for clearing of noncts cheque will be discontinued from december 31. Everything you need to know about cts 2010 cheques.

Cts2010 standard cheque introduced for standardization of security features and easy processing. So, better not to waste much time and get your new cheque books soon from your bank. If you have availed a home or auto loan and issued postdated. Speed clearing system is applicable for both cts2010 grid based clearing system and noncts clearing system. 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. And you must do it latest by december 31, 2018, if you dont want your cheques to. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. All the 14 lcpcs are printing and issuing mccs in respect of branches linked to them. What is the format of cts2010 standard cheque book. 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.