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. Mar 03, 2018 cts 2010 compliant cheque means, the cheque adheres to the cheque truncation system which started in 2010 in india, as per the guidelines of rbi. To verify if your cheque will hold true post december 2012, check for the following two features on cheque, if they are present, you dont need to worry, if not, order your new cheque book varies from bank to bank. Cheque book issued till 04 november 2012 is non cts compliant is my cheque cts compliant. This means that there will be no physical movement of the cheque but rather an.
Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Cheque truncation system it is a process of stopping the physical movement of cheques in the clearing cycle. How to identify my cheque book cts2010 standard compliant. For the uninitiated, cts transforms cheque clearing from a paperintensive to a. If these features are present in your cheque book, it is a cts compliant one. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise. Your present cheque book will not be valid after 31dec2012.
Words cts2010 printed on the left hand side of the cheque leaf near perforation. Security features of cheque rbi notice created date. You need to apply in your bank for the same and it is available free of cost. Cheque truncation means stopping the flow of the physical cheques issued by a. Electronic images of cheques are captured and transmitted across the banks. The branch address and ifsc code should be on the top left side of the cheque 2. Rupee symbol where the amount in figures needs to be written. Incase the cheque book you currently have is not cts2010 compliant as per the above features we request you to immediately order a new cheque book. Instead, an electronic image of the cheque will be sent to paying branch through the clearing house along with relevant information like data on the micr band, date of presentation. We would like to inform you that we have been issuing cts2010 compliant cheque books since april 2011. How to identify my cheque book cts2010 standard compliant or. Every bank customer is expected to obtain new cheque books from their.
After opening an account in a bank, with cheque book facility, the bank you will provide you with a cheque book. Cheques not complying with cts 2010 standards will be cleared at less frequent intervals i. Oct 25, 2012 rbi has issued notification to outdate older cheques leaves by december 31, 2012 by fully adopting to cts 2010 cheque truncation system guidelines. A chequebook is a collection of cheque leaves and is issued to the customer having an account in the bank. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Cts 2010 compliant cheque means, the cheque adheres to the cheque truncation system which started in 2010 in india, as per the guidelines of rbi. Cheque truncation system cts is aimed at curbing the physical. Banks logo and details on the left hand side corner. Cheque truncation system cts explained bankexamstoday. Words cts 2010 printed on the left hand side of the cheque leaf near perforation. However, these security featureschanges are available only in cts2010 standard cheque books issued. Also already circulated cheques will be replaced within 31st december 2012.
The cheque truncation system or cts is the cheque clearance system introduced by rbi to fasten up the clearing of cheques. Cts certified technology specialist exam guide, second. To help you identify whether the cheque book you currently hold is cts compliant or not, you can look for the following features. You can also request for a new cheque book through dbs atm or internet banking. A chequebook is a book containing detachable blank cheques, issued by a bank or building society to holders of cheque accounts. State bank of india sbi, the countrys largest lender, came out with an advertisement in all major national dailies on 5 november, stating that it will issue a new set of cheque book to its. If the above letters are present, your cheque book is cts2010 compliant 5. 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. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance.
Instead of manually transferring cheque from one branch to other branch, under cts the image captured of cheque along with micr. This means that if you have any cheque leaf older than mid 2011 varies from bank to bank, these cheques will not be accepted post january 1, 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. Older cheque leaf to outdate on dec 31, 2012 cts 2010. Nov 29, 2012 after i placed a request for new cheque book, i found that my existing cheque book issued to me in mar 2012 was already a cts 2010 one. Rbi has issued notification to outdate older cheques leaves by december 31, 2012 by fully adopting to cts 2010 cheque truncation system guidelines. For accounts opened this year, only the first cheque book issued will be free.
Chequebook definition and meaning collins english dictionary. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. Citibank cheque books have been compliant with the new standards, since april 01, 2012. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Please identify if your existing citibank account cheque book is cts2010 compliant. If your chequebook is not compliant with rbis cheque truncation system cts, implemented from october 1, it may be invalid from january 1, 20. Cts 2010 the banks would need to upgrade a few things to comply with cts 2010 standards of rbi. Jan 01, 2019 cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commencing in 2010, for faster clearing of cheques. However, based on type of accounts saving, current account the number of cheques in a chequebook differ. Cheque truncation system 2010 or, cts2010, is a new standard with uniform cheques with additional safety features for faster clearances through digital sharing of an image and relevant details of cheques between banks. These cheques have cts 2010 printed near the left margin.
With this, the bank will not accept all the noncts cheques that you issue from your existing cheque book and those will be out of circulation from december 31, 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. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. Definition kinds and types of cheques, article posted by gaurav akrani on kalyan city life blog. Cheque book issued till 04 november 2012 is noncts compliant. Cheques not complying with cts2010 standards will be cleared at less frequent intervals i.
The move to replace cheques with instruments that meet the new cheque cts2010 standard comes with benefits for banks and customers alike. This system is followed for clearing cheques in an errorfree, fast and hasslefree manner. Noncts cheques may face further clearance delay from may. What does cts 2010 noncompliant cheque mean in icici.
Cheque book issued till 04 november 2012 is noncts compliant is my cheque cts compliant. Cheque books issued, by the bank, on or after 1st january 2012 are cts 2010 standard compliant. Nov 04, 2012 however, these security featureschanges are available only in cts2010 standard cheque books issued. So it is necessary for all to understand how your new cheque format looks like. Under the banking tab, click on the link other banking services request cheque book. Oct 25, 2012 cts 2010 standard has introduced new security and format features in cheques, including popular micr code. Know about deadline, process, benefits of issuing cts cheque book 2010 with sample cheque. Cheque book definition and meaning collins english. Dec 05, 2012 a copy of cheque, cts2010 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. Oct 25, 2018 after opening an account in a bank, with cheque book facility, the bank you will provide you with a cheque book. Instead of this an electronic image of the cheque is transferred with vital essential data. 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. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. Cheque truncation system cts or imagebased clearing system ics, in india, is a project.
Cheque truncation system cts cheque printing software. Dec 16, 2012 how to identify a cts 2010 compliant cheque. We had earlier reported that your old cheque books may become invalid, come january 1, 20. Cheque truncation system, abbreviated as cts, is nothing but an electronic verification procedure using imagebased processing. Cheque truncation system reduces the scope for clearingrelated frauds. Cts 2010 standard has introduced new security and format features in cheques, including popular micr code.
Thus, it is considered as the major landmark in the indian banking industry. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Cheque book issued prior to december 2010 is non cts compliant savings treasure accounts. All banks providing cheque facility to their customers have been advised to issue only cts2010 standard cheques.
Cts certified technology specialist exam guide, second edition. Cheque truncation system cts is the system in which the flow of physical movement of the cheque will be eliminated in the cheque clearing process. December 16, 2012 cts stands for cheque truncation system, which is an image based clearing system implemented in india by the reserve bank of indiarbi for faster clearing of cheques by collecting cheque images and micrmagnetic ink character recognition data and transferring them online. With this, the bank will not accept all the non cts cheques that you issue from your existing cheque book and those will be out of circulation from december 31, 2012. Sep 14, 2015 the number 2010 in cts2010 is because the guidelines for cts came up in the year 2010. This means for any change in the payees name, amount in figures or amount in words, you will have. Chequetruncation means stopping the flow of the physical cheque. Cheque book definition and meaning collins english dictionary. Mar 09, 2012 7 missing chequeswhen you miss few cheque leaves from your cheque book then you need to inform your bank about this and use stop payment facility against the missing cheques. Banks have now been asked to ensure all cheques are compliant with cts 2010 standards by april 1, 20. Dec 05, 2012 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.
Cts has been implemented in new delhi, chennai and mumbai with effect from february 1, 2008, september 24, 2011 and april 27, 20 respectively. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. 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. Guidelines for cheque truncation in nigeria page 6 3 definitions cheque an instrument, payable on demand and drawn on or payable through or at an office of a bank, whether or not negotiable, that is handled for forward collection or return. A cheque book is a book of cheques which your bank gives you so that you can pay for. Can you please mail me a scanned copy of the latest cheque leaf that is compliant with cts 2010. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing.
Any non cts2010 standard cheques will not be valid after december 31, 2012. Noncts cheques may face further clearance delay from may 1. This speeds up the process of collection of cheques resulting in better service to customers, shorten the clearing cycle, speeder credit to account holders. 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. So rbi came up with a new idea known as cheque truncation system cts. In this system, instead of producing the physical cheques to the payee bank, just the electronic image of the cheque along with the micr code and other cheque credentials are transmitted to the drawee bank for the payment through a. Unless most means 95% or more, i suspect that the sheer volumes represented by. My cheque book is not cts 2010 compliant, what to do. Your cheque book may be invalid from jan 1, 20 rediff.
Cts certified technology specialist exam guide, second edition grimes, brad, inc. This means the older noncts 2010 cheques will continue to be valid till march 20. Meaning, pronunciation, translations and examples log in dictionary. More people are using electronic means to send money and pay for goods and. Bank invites competitive rates for printing of micr cheque books, as per the quantity mentioned in annexure i these cheques are to be printed as per rbi guidelines conveyed vide circular number. The reserve bank of india rbi has extended the deadline for implementing the cheque truncation system2010 cts 2010 by another three months. Check your current cheque book is it valid new cts. Many banks have still not asked their customers to surrender the non cts 2010 cheque books to reflect the change, a crosssection. Cts acronym or abbreviation in banking all acronyms dictionary. Nov 19, 2014 all banks providing cheque facility to their customers have been advised to issue only cts 2010 standard cheques. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. After i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts2010 one. 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. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010.
In the year 2010, rbi came up with the guidelines for cheque truncation system. After migration of the entire cheque volume from micr system to cts, the traditional micrbased cheque processing has been discontinued across the country. Simple guide for customers to identify if their cheques are cts. Apr 29, 2014 non cts cheques may face further clearance delay from may 1. Void pantograph just below where the account number is mentioned. Cheque clearing in india cheques continue to play a dominant role in indias retail payment system.
I had to give the first page of my old cheque book and they took my request. Jan 25, 20 cts cheque full form is cheque truncation system. Cts stands for cheque truncation system and essentially means that. I hope you are clear about cheque truncation system cts and how your cheques will become invalid from jan 1,20. Can i use cheque book issued by my previous branch. Cheque truncation implies stopping the physical flow of cheque. In this system, instead of producing the physical cheques to the payee bank, just the electronic image of the cheque along with the micr code and other cheque credentials are transmitted to the drawee bank for the. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Cheque truncation system new benchmark for cheques in banks. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Truncation means, stopping the flow of the physical cheques issued by.
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