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 cts2010 one. You can invest in the sbi mutual fund schemes online. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. Oct, 2017 state bank of india masaurhi, patna 804452 respected sir, my sbi saving ac no. Will the banks automatically send new cheque books or one has to ask for it. Please surrender your unused non cts cheques at your branch and obtain new cts 2010 standard cheque book. I hope you are clear about cheque truncation system cts and how your cheques will become invalid from jan 1,20. Individuals have to now confirm whether they have a new format of cheques or. Customers can visit the bank branch or even use the atm or sbis mobile app to apply for a new cheque book. Cheque books of these 6 banks will be invalid soon, warns sbi. Nov 22, 2012 this new cheque clearing system will be applicable from 1 st january,20. Details here the limit of four atm withdrawals per month only applies to the basic savings banks deposit accounts, sbi added. Cheque book can be requested for any of your savings, current, cash credit, and over.
Sbi to accept cheques conforming to new standards from jan 1 to meet the objective, sbi has asked all its branches to issue only with uniform features conforming to. You can opt to get the cheque book delivered at your registered address or you can enter a new address. Cheque truncation implies stopping the physical flow of cheque. 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. The new cheques are cts2010 standard with more added security features and. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. However, if you have received the cheque book more than three months ago, you may need to check.
Also already circulated cheques will be replaced within 31st december 2012. Soon, you have to get a new cheque book along with the indian financial system ifs code. Please check your cheque book for the above mentioned features and ensure that your cheque is cts 2010 complied. With this, the bank will not accept all noncts cheques that you issue from your existing cheque book and those will be out of circulation from december 31, 2012. Adhil shetty updated on december 24, 2012 published on december 22, 2012. Everything you need to know about cts 2010 cheques banking basics. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Sbi to send new cheque books by dec 15, update your. Those who have not yet got the ctscompliant cheques can apply for it. Cheque book can be requested for any of your savings, current, cash credit, and over draft accounts. State bank of india masaurhi, patna 804452 respected sir, my sbi saving ac no. 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 cts2010 one. Jan 25, 20 cts cheque full form is cheque truncation system.
Sep 25, 2017 cheque books of these 6 banks will be invalid soon, warns sbi. All residual noncts2010 cheques with customers will continue to be valid. Photo copy of a valid cts compliant cheque will serve the purpose better for information to general public. You can also request for a new cheque book through dbs atm or internet banking. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. My cheque book is not cts 2010 compliant, what to do. Banks have now been asked to ensure all cheques are compliant with cts 2010 standards by april 1, 20. Nov 21, 2012 if you have your cheque book issued before aug 2011, then you need to get a new cheque book to be used after 31 dec 2012.
Know about deadline, process, benefits of issuing cts cheque book 2010 with sample cheque. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Instead of manually transferring cheque from one branch to other branch, under cts the image captured of cheque along with micr. Banks should exercise care while stamping the cheque forms, so that it does not interfere with the material portions such as date, payees name, amount and signature. You can opt for cheque books with 25, 50 or 100 cheque leaves. My cheque book is not cts2010 compliant, what to do. The reserve bank of india rbi on monday asked banks to issue new cts2010 compliant cheque books under the new format and gave them time till julyend to withdraw the old format cheques. Only cts 2010 standard cheque books are to be used after. I assume noncts cheques were out of circulation wef 31 december 2012. Its all about cts 2010 new cheque truncation system. 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.
Sbi to send new cheque books by dec 15, update your address. Cts2010 compliant cheque will have the printer details along with the text cts2010 printed on the extreme left hand of the cheque leaf. Your old cheque leaves may not be valid after march 31, 20, as the rbi has instructed all. This calls for your immediate action to make sure that your cheque book is cts compliant. I fail to understand sbis motive to earn from such mode, from the general public for savings. Cts2010 standard and old bank cheques of india cts2010 cheque truncation system cheque is a new type of cheque introduced by reserve bank of india. It looks all the current cheque books will have to be replaced. What is the format of cts2010 standard cheque book. You can see some of the features to identify if you have a cts2010. Indian bank charges rupees thirty for one cts2010 cheque book, from customers. How many days does it take to get a sbi cheque book. 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. Watch the demo video to know why the new cts system speeds up.
The measure is primarily aimed at serving duel objectives. Cts2010 standar cheque cts 2010 non sbi state bank of india sbt state bank of trvancore. The new cheque has an indication for a separate signature. If you have ordered your cheque books recently, say, a month.
Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. 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. The cut off date for accepting non cts cheques has been extended till 31st july 20. Therefore, we recommend you to place a request for a new cheque book.
So, better not to waste much time and get your new cheque books soon from your bank. Cheque collection policy state bank of india cheque collection policy 2015. To meet the objective, sbi has asked all its branches to issue only with uniform features conforming to cts 2010 standard cheques to their customers. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. Jun 12, 2017 sbi atm withdrawal, cheque book, other transaction charges.
As per rbi guidelines, only cts 2010 standard cheque books are to be used after 31 december 2012. Check your current cheque book is it valid new cts. After migration of the entire cheque volume from micr system to cts, the traditional micrbased cheque. So it is necessary for all to understand how your new cheque format looks like. Go to your bank branch and request for a new cheque book or order one online. With effect from 2010, banks are providing only cts enabled cheque books to their customers. If you are an account holder of sbis erstwhile six associate banks including bharatiya mahila bank, your cheque books will become invalid from december 31. Sep 03, 20 everything you need to know about cts 2010 cheques banking basics. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. Sbi to accept cheques conforming to new standards from jan. Indias largest public lender state bank of india sbi has told its customers that they will no longer be able to use noncts cheques from december 12. The move to replace cheques with instruments that meet the new cheque cts 2010 standard comes with benefits for banks and customers. After migration of the entire cheque volume from micr system to cts, the traditional micrbased cheque processing has been discontinued across the country.
So rbi came up with a new idea known as cheque truncation system cts. Simple guide for customers to identify if their cheques are cts. Only cts 2010 standard cheque books are to be used after 31. If you have your cheque book issued before aug 2011, then you need to get a new cheque book to be used after 31 dec 2012. This new cheque clearing system will be applicable from 1 st january,20. Otherwise, order for a new cheque book immediately. Sbi to introduce new cheque standard from jan 1 dumisoft. 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.
Dec 05, 2012 new and efficient system is most welcome. Sbi atm withdrawal, cheque book, other transaction charges. The mandate of cts is applicable for all private, national and foreign banks operating in india. Figure 1 shows sample settings to receive the cheque at your registered address. The bank also mentioned that customers can apply for new cheque books through internet banking, mobile banking, atm, or simply by visiting the home branch. Sbi has already told all its customers to get new cheques because all the old cheques will become invalid, in. Your present cheque book may not be valid after 31.
Cheque truncation system new benchmark for cheques in banks. We have given the example of hdfc bank but the same is applicable on all banks as the instructions are issued by rbi. The lender is preparing to send the new series of cts compliant cheque books by december 15, 2012. Everything you need to know about cts 2010 cheques banking. 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.
Emi cheques either in old format or new cts2010 format shall be. Can i use cheque book issued by my previous branch as. Rbi extends deadline for withdrawing noncts 2010 cheques. Standardization and enhancement of security features in cheque formsmigrating to cts 2010 standards. Cheque books of sbi associate banks will not be valid. You must obtain a cts2010 compliant cheque book on or before 31st march 20. From january 1, it will be mandatory to use only new cheque leaves that are. Please note that as per rbi guidelines, non cts2010 cheques should be withdrawn before december 31, 2012. It is clear, thus, that 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. Cts2010 standard cheque introduced for standardization of security features and easy processing. The reserve bank of india rbi has extended the deadline for implementing the cheque truncation system2010 cts 2010 by another three months. Cts2010 standard cheques to their customers from april 2012. Can i use my sbi cheque book of 2009 at present in 2017.
The reserve bank of india rbi has prescribed new guidelines on standardization of security features of cheques, which are aimed at enhancing customer safety and facilitating easier processing. The move to replace cheques with instruments that meet the new cheque cts2010 standard comes with benefits for banks and customers. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 01. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online.
Everything you need to know about cts 2010 cheques. How can i check the status of cheque deposited in sbi bank. Cts has been implemented in new delhi, chennai and mumbai with effect from february 1, 2008, september 24, 2011 and april 27, 20 respectively. Mar 18, 20 standardization and enhancement of security features in cheque formsmigrating to cts 2010 standards. Cts 2010 standard cheque introduced for standardization of security features and easy processing. Select the post or courier option if you wish sbh to send the cheque book. Soon, you have to get a new cheque book along with the indian financial system. I was deposit aapplication form to issue a new cheque book on datedprotected. Customers can visit the bank branch or even use the atm or sbi s mobile app to apply for a new cheque book. Cts, the state bank of india sbi has asked its customers to update their mailing address. New format cheques from jan 1 the hindu businessline. Effective december 31st, 2012 usage of non cts 2010 standard cheques would not be applicable with regard to your investments. Sbi is arranging to send these new series of cheque books to its customers at their last recorded.
Enjoy shopping at the ccavenue shopping mall and purchase from a wide variety of products and services through ccavenue certified. Watch the demo video to know why the new cts system speeds up cheque clearing times for you, and how to identify a cts. If the above letters are present, your cheque book is cts2010 compliant 5. Sbi to accept cheques conforming to new standards from jan 1 to meet the objective, sbi has asked all its branches to issue only with uniform features conforming to cts 2010 standard cheques to their customers. You can request cheque book for any of your accounts including savings, current, cash credit, and over draft accounts. If you have given any post dated cheques to your banks for any loan emis please replace them with new cheque leaves, because the banks cannot encash the old cheques from 1 st. New rbi guidelines for cheque truncation consumer resources. However we have inquired about changes from state bank of patiala branches but they have showed ignorance about the new rules,so check latest status from your bank and,if required,ask for new cheque book asap.
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. In a move to increase speedy collection of crossed cheques, the reserve bank of india has come up with new cts cheques. Noncts 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. 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. Get your new chequebook, now patna news times 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. 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. 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 december 31. A new cheque should be used in the event of any alterations corrections. Change your cheque book before 31st december certified. Posted by jagoinvestor on november 29, 2012 comments 58. Sbi to accept cheques conforming to new standards from jan 1. In a tweet directed at the customers of 5 sbi associate banks and the bharatiya mahila bank, sbi requested them to apply for a new cheque book as soon as possible.