Sbi to accept cheques conforming to new standards from jan 1. My cheque book is not cts 2010 compliant, what to do. There is a new standard in banking called as cheque truncation system or cts 2010, which all the banks have to follow now. Cts 2010 cheques have certain common security features and standardised field placements for enabling image based processing of cheques. Non cts cheques may face further clearance delay from may 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. Check your current cheque book is it valid new cts. The branch address and ifsc code should be on the top left side of the cheque 2. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. The measure is primarily aimed at serving duel objectives.
Cheque book issued prior to december 2010 is noncts compliant. So, better not to waste much time and get your new cheque books. Will my old cheques that are not cts2010 still work. 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. Sbi is arranging to send these new series of cheque books to its customers at their last recorded address. The step has been taken as per the direction of the reserve bank of india. Important message cts 2010 regulation applicable to. Earlier, cheques deposited by customers used to be presented by the collecting bank to the paying bank over the counter of t. Cheque truncation system cts 2010 standards bankbazaar. Cheque book issued prior to december 2010 is non cts compliant. Similarly, in september this year, punjab national bank pnb had asked its. 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. So lets see how to order cheque book online in sbi. The number of cheque leaves in the multi city payable at par cts 2010 standard cheque books will be as under.
Cheque books will be dispatched within 3 working days from the date of request. You must obtain a cts2010 compliant cheque book on or before 31st march 20. Change your cheque book before 31st december certified. Everything you need to know about cts 2010 cheques banking. Emirates world earn miles with every swipe and see the world sooner. Cts 2010 standard cheques will be cleared on all working days. Dec 19, 2018 so, better hurry up if you havent got your old cheque books replaced with cts2010 standard cheque books. Select the account for which you require a cheque book, enter the number of cheque leaves.
Only cts 2010 standard cheque books are to be used after. 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. Earlier in the month, sbi decided to discontinue accepting the existing cheques that. 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. If you have availed a home or auto loan and issued postdated. As per the said new rbi guidelines, banks have been advised to issue only cts 2010 standard multicitypayable at par cheques to their account holders. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Request sbi cheque book online 3 methods let me tell you that the charge of the new cheque book is rs. 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. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. I enquired with sbt whether to change my holding cheque book to obtain the new cts 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 clearing of cheques. Sbi is issuing new cheque books which conform to the standards of cts 2010 cheque truncation system to all its customers.
If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. As per the negotiable instruments act, every cheque is required to be presented to the drawee paying bank for payment. Mar 22, 2017 cheque book i still have not recieved the cheque book respected sir, our customer in state bak of india have applied for the new cheque book n it has been dispatched from our bank under the supervision of mrs. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. Simple guide for customers to identify if their cheques are cts. Effective december 31st, 2012 usage of non cts 2010 standard cheques would not.
Sample old and newcts 2010 compliant cheques issued by state bank of india sbi are shown below. 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. From june 1, a customer with a basic savings bank deposit will have to pay rs 30 plus service tax for a 10leaf cheque book, rs 75 with service tax for a 25leaf cheque book and rs. December 31st is the last day of using noncts cheques for account holders of all banks including sbi state bank of india, hdfc, punjab national bank, icici, bank. You need to apply in your bank for the same and it is available free of cost. State bank of india today said it will from january 1 accept only those cheques which conform to new standards. 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.
Cts 2010 standard cheque introduced for standardization of security features and easy. Cheque books not containing cts2010 cheque leafs are called. All the customers of state sbi to introduce new cheque. If you are an account holder of sbi s erstwhile six associate banks including bharatiya mahila bank, your cheque books will become invalid from today. In an official notice on its website, hdfc bank says separate sessions for clearing of non cts cheque will be discontinued from december 31. Check writer cheque printer for free chrysanth cheque writer. You can either collect it from branch or request your branch to send it by post or courier. Noncts cheques for account holders of all banks including sbi state. You can also request for a new cheque book through dbs atm or internet banking. 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. 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. You can now print your cheque in cts 2010 with out any worries.
The word cts 2010 must be printed on the left hand side of the cheque near perforation. Printing of mccs is now fully in conformity with cts 2010 standards. 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. Sbi wecare deposit vs senior citizens savings scheme scss which is. Dec 19, 2018 sbi notice the state bank of india, for instance, has put a notice on its website which says, as per rbi directives, periodicity for processing noncts cheques in cts clearing has been. 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. 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. Cts 2010 the banks would need to upgrade a few things to comply with cts 2010. Therefore, we recommend you to place a request for a new cheque book. Cheque truncation system change looks good goodmoneying. 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. Cheque truncation system new benchmark for cheques in banks.
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. Apr 29, 2014 non cts cheques may face further clearance delay from may 1. Get your new chequebook, now patna news times of india. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Everything you need to know about cts 2010 cheques.
Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 07. 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. 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. It might happen that your cheque s start bouncing and do not get accepted from jan 1, 20. The deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. Does your software supports cts 2010 cheque formats. Sbi atm withdrawal, cheque book, other transaction charges. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. And you must do it latest by december 31, 2018, if you dont want your cheques to. Yatra platinum credit card a card thats perfect for frequent travelers. December 31st is the last day of using non cts cheques for account holders of all banks including sbi state bank of india. What has been orally informed is that so long the details relaing to the ac no. Free cheque writer for india banks check writer cheque. Sbi customers can deposit their non cts cheque in their respective branch and get free new cts 2010 standard chequebook.
Cts 2010 standard cheque introduced for standardization of security features and easy processing. Sep 03, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Nov 29, 2012 so please verify whether cheque book you have a already cts 2010 before rushing to bank to get a new one. Noncts cheques may face further clearance delay from may 1. Sbi to introduce new cheque standard from jan 1 dumisoft. Many banks have still not asked their customers to surrender the non cts 2010 cheque books to reflect the change, a crosssection of. In the year 2010, rbi came up with the guidelines for cheque truncation system. Jan 01, 2018 if you are an account holder of sbi s erstwhile six associate banks including bharatiya mahila bank, your cheque books will become invalid from today. Noncts cheques to become invalid from january 1 goodreturns. Jan 12, 20 8 boxes to write the date in ddmmyyy format. Watch the demo video to know why the new cts system speeds up cheque clearing times. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. So, better hurry up if you havent got your old cheque books replaced with cts 2010 standard cheque books.
You can opt for cheque books with 25, 50 or 100 cheque leaves. This means that there will be no physical movement of the cheque but rather an. Android hindi news app, ios hindi news app amarujala hindi news app. May 02, 2017 request sbi cheque book online 3 methods let me tell you that the charge of the new cheque book is rs.
When you open an account, the first cheque book provided to you free of charge. Sbi to accept cheques conforming to new standards from jan 1 05 nov, 2012, 04. Just log on to retail section of the internet banking site with your credentials and select the cheque book link under requests tab. Sep 03, 2012 i enquired with sbt whether to change my holding cheque book to obtain the new cts 2010. Rbi had issued a notification relating to the implementation of cts 2010 standard.
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. 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. Sbi to send new cheque books by dec 15, update your address.
Rbi to make cheque truncation system operational pan india. If you are still in use of nonctc cheque books, then it is in your own interest to get those. Important message cts 2010 regulation applicable to cts. 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 majority of banks, including sbi and pnb, have already informed their. Cts 2010 the banks would need to upgrade a few things to comply with cts 2010 standards of rbi. 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. Go to your bank branch and request for a new cheque book or order one.
Mar 18, 20 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. 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. A reproduction of the sample cheque available on rbis website. My cheque book is not cts2010 compliant, what to do. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. 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. Non cts cheque book will not accept, sbi cheque book rule.
Cheque truncation system reduces the scope for clearingrelated frauds. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. 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. 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. You can opt to get the cheque book delivered at your registered address or you can provide.
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