Feb 07, 2020 the users should first check if their cheque books are cts. Cts 2010 cheques will have security features such as a certain type of paper, cts watermark, banks logo in invisible ink and a standard field placement for all banks. An electronic image of the instrument is presented for clearing. 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.
Rbis directives on standardisation and enhancement of security features in cheque forms known as cts 2010 as per rbi circular dated. These features are aimed at enhancing customer safety and facilitating easier. Cts 2010 compliant cheques blogs, comments and archive news on. Dec 20, 2012 the deadline for new cheques under the cheque truncation system cts 2010 has been extended till 31 march 20 by the rbi. You can now print your cheque in cts 2010 with out any. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. If it is not marked then ask your bank to issue you a fresh cheque book in cts format. As per the rbi guideline, non cts cheque will become inivalid from 1 january. Request you to make a note that noncts compliant cheques would. Unique features, cts 2010 compliance size, paper signature, date detail. Details of current specifications are contained in the document mechanised cheque processing using micr technology procedural. Affordable and search from millions of royalty free images, photos and vectors.
Dec 07, 2018 every account holder must deposit their non cts cheques and cheque books in their respective branch and get new cheque leaves or books as per the new cts 2010 standard. Take and count fewpieces and leave the reminder to be counted in his presence on the clip system. How to apply for hdfc cts cheque book online from mobile. Procedural guidelines for cheque truncation system cts. 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. The cts cheque books will have a cts 2010 cheque leafs. Check the details of the cheque book request and enter the otp that has been sent to your registered mobile number and click on. Cts 2010 standard cheques will be cleared on all working days. Rbi to introduce more security features for cheques via positive pay mechanism. How the cts system will help in faster and efficient cheque. Cts 2010 compliant cheques latest breaking news, pictures, videos, and special reports from the economic times. It is a cheque clearing system undertaken by the reserve bank of india rbi for faster clearing of. Please note that when you receive or issue a cheque, if. Important message cts 2010 regulation applicable to.
All the banks are now required to issue cts 2010 cheques only. 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. You need to apply in your bank for the same and it is available free of cost. Jan 14, 20 it has many special features introduced by rbi to make the cheque payments a more secure and universalized mode of payment. So it is necessary for all to understand how your new cheque format looks like. Thus, non cts cheques would not be used after 31 march 20. The system of micr cheque clearing requires the cheques to be physically moved from place to place and the time involved in their processing at various intermediate stages increases the length of the clearing cycle of cheques.
No clearance of noncts compliant cheques from january. This was also due to the fact that the cheques require their presentment at the branch where they were payable. Please sign above is mentioned on bottom right of the cheque. Pantograph wavelike design with hidden embedded word void become clearly visible in photocopies of a cheque. Jul 29, 2014 all cts cheques carry a watermark, with the words cts india, which become visible when held against any light source. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Dec 04, 2018 cts is the abbreviated form of cheque truncation system. As state under the negotiable instruments act, it is the right of the drawee bank to get a detailed briefing and physical instrument of the cheque for its further verification.
The clearing timings of non cts session are covered in annex xb 1. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. 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. Jun 15, 2015 look for cts india mark on your present cheque leaves by holding it against light source. How to apply for hdfc new cheque book request for hdfc. 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. All residual non cts 2010 cheques with customers will continue to be.
Cheque book with round corner with magnet loopi, left hand side cheque book holder clip, right hand side. Citibank cheque books have been compliant with the new. Cts 2010 cheques have certain common security features and standardised field placements for enabling image based processing of. Printers name with cts 2010 in left side of cheque. Bankers clearing house at for cheque truncation system.
The clearing timings of non cts session are covered in. Cts 2010 is printed on the left hand side of cheque leaf near perforation. Does your software supports cts 2010 cheque formats. Request you to make a note that non cts compliant cheques would.
In case you have issued non cts 2010 standard post dated cheques pdcs. 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. To avoid frauds, banks recommend using cts 2010 cheques that are not only image friendly but also have more security features such as a certain prescribed type of paper, watermark on the cheque. Enhancement of security features in cheque forms migrating to cts 2010 standards as covered in annex xa and other circulars from time to time. The reserve bank has been playing the role of the catalyst in ensuring efficiency in the clearance of cheques. Noncts cheques to become invalid from january 1 goodreturns. How the cts system will help in faster and efficient. Hello friends, my name is sandy and i welcome you all to my channel gyaan vigyaan. How to apply for hdfc new cheque book request for hdfc cts.
All cts 2010 cheques bear some common security features and standardised field placements for enabling imagebased processing of cheques through optical character. Important message cts 2010 regulation applicable to cts. High quality and cheap cheque clip file material pvc or eva or other ecofriendly printing silk screen or uv coating or hot imprint or silver plating orother process hotseal certificate sgs or en71 or reach or rohs or others packing standard export packing or customized packing delivery term exfactory or fob shenzhen product features side gusset,water proof,print or no printing quality. Cheque truncation system cts assures certain common minimum security features in cheques printed, issued and. Same standard cheque book received by me from my banker. Dec 23, 2020 the average value of a cheque cleared in cts presently is rs 82,000. 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. It is a clearance system for cheques used by the reserve bank of india rbi for faster cheques clearances. Get your non cts cheque book replaced immediately, it said. We request our customers to surrender their existing non cts 2010 standard cheques at any of our branches on or before december 31, 20 and place a request for issuance of cts 2010 standard cheques. Watermark cts india to be visible cheque is held against any light.
If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. The main feature of cts2010 cheques is that a cheque can be cleared electronically. Customers are requested to ensure that in case of post dated cheques pdc issued to any officeservice vendorbanks from the dbs india cheque book issued as. You can also look for cts 2010 mark on the left hand side of your chq leaves as shown in above image. The presenting bank in cts can verify the credibility of the cheque by analyzing its evident features. Feb 06, 2020 cts 2010 cheques have certain common security features and standardised field placements for enabling image based processing of cheques. How to apply for sbi cheque book online information news. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. Simple guide for customers to identify if their cheques are cts.
Noncts cheque book will not be get cleared after sep20. Thus, noncts cheques would not be used after 31 march 20. All cheques issued by banks including dds pos issued by banks with effect. 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. Features of cts2010 standard chequects cheque truncation. The bankers book evidence bbe act, 1891, the legal framework was put in place for the. If you still have a non cts cheque book, you need to get it replaced by your banker. 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. Using these will help avoid the possibility of fraud. Check your current cheque book is it valid new cts. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance. Look for cts india mark on your present cheque leaves by holding it against light source. And if you hold any postdated cheques beyond 31st march you will have to arrange to get it replaced with a new cheque truncation system cheque. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience.
Full form of cts cheque truncation system how does it work. Instead of this an electronic image of the cheque is transferred with vital essential data. This feature will avoid fraudulent from photocopying or printing it. Cts 2010 standard cheque book issued to the customers will have cheque leaves with letters cts 2010 printed vertically on the cheque leaf near. As per rbi guidelines, non cts2010 cheques should be withdrawn before december 31, 2012. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. A pantograph which shows voidcopy while taking photocopy of the cheque below the account number. Standardisation and enhancement of security features in. The cts 2010 standard specifying minimum security features on cheque leaves acts as a deterrent against cheque frauds, while standardisation of field placements on cheque forms enables straightthroughprocessing by use of optical or image character recognition technology. Cheques that are compliant with the cts 2010 standard have more security features and are image friendly. The reserve bank of india had issued a new guideline about cts cheques around three months ago. It act, 2000 and the bankers book evidence bbeact, 1891, the legal framework.
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. Banks will clear cheques faster with this new tech. So if you are still holding a non cts cheque book, then you should ask your bank to issue a fresh cheque book. Cts2010 standard for cheque forms reserve bank of india. 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 24, 2012 you can check if you hold a cts compliant cheque book by verifying if the cheque leaves have the features mentioned above. Understanding cheque truncation system cts slideshare. Non cts cheque book issue branch can pay non cts cheque amount. Bankers clearing house at for cheque truncation system cts. Nov 30, 2018 banks to stop using non cts cheque from 2019. The main feature of cts 2010 cheques is that a cheque can be cleared electronically.
You may be using a physical cheque book, but at the backend, banks have moved on to whats loosely called digital cheques under the cheque truncation system cts. Cheque truncation system cts 2010 standards bankbazaar. Nov 19, 2014 iv watermark, all cheques to carry a standardized watermark, cts india should be oval and 2. Non cts cheque book issue bank can payment non cts cheque. Also already circulated cheques will be replaced within 31st december 2012. Rbi to make cheque truncation system operational pan india.
Remember, your old cheque books from your bank account in india will become void after march 31, 20, as the rbi has instructed all banks to implement the cts across the nation. 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. How do i know if my present cheque book is cts2010 standard compliant. Instead of using the cheque s physical copy to complete the clearance process, ctc uses the electronic image of the cheque along with. Cheque truncation system cts explained bankexamstoday. The move to replace cheques with instruments that meet the new cheque cts. Features a cts compliant cheque leaf is different from a normal cheque.
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