If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Please note, from 1st jan 2015, non cts standard cheques shall be cleared only once a week i. 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. 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. Also already circulated cheques will be replaced within 31st december 2012. This calls for your immediate action to order for a new cts 2010 standard cheque books, states adhil shetty, ceo. Cts transfer money cheque book truncation system rbi. Sbi, hdfc, pnb, icici, bob, other bank customers these to become invalid non cts 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. Check your current cheque book is it valid new cts. As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. The rbi is now planning to implement a panindia cheque truncation system. Rbi to introduce panindia cts by sept 2020 to make cheque. And you must do it latest by december 31, 2018, if you dont want your cheques to.
Instead of this an electronic image of the cheque is transferred with vital essential data. Under the banking tab, click on the link other banking services request cheque book. As the term proposes, truncation is the course of discontinuing the flow of the physical cheque in its way of clearing. 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. Always keep it in a safe place, under lock and key. Know your new ctc2010 standard bank cheque format it is now mandatory for banks to strictly issue standardized and enhanced new format of cheques called cts2010.
Whenever you receive a new cheque book, make sure you count the number of cheque leaves in it. List of micr centers under southern grid 1 chennai 2. Cheque books issued after aug 2011 are cts 2010 compliant. Cts2010 cheques have certain common security features and standardised field placements for enabling image based processing of. Cheque book request on your corporation bank account can be done by a simple text message ccbr to 5667716 9243717778. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque truncation system cts centers for another four months up to july 31, 20.
Cheque truncation system notified documents npci national. If you received your cheque book before august 2011, you are requested to order a new 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. So, better hurry up if you havent got your old cheque books replaced with cts 2010 standard cheque books. Everything you need to know about cts 2010 cheques banking. Overseas forex trading through internet trading portals. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. 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. Simple guide for customers to identify if their cheques are cts. So it is necessary for all to understand how your new cheque format looks like.
Only cheque books issued after aug 2011 are cts 2010 compliant. 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. Customers are requested to ensure that in case of post dated cheques pdc issued to any. 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 postdated cheques with the cts2010 compliant ones. The rbi is now planning to implement a panindia cheque truncation system from september 2020. Most banks have already stopped clearing non cts cheques since january 1, 2019. 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. You can also request for a new cheque book through dbs atm or internet banking. 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. International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Request cheque book of corporation bank short tutorials. Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for quicker cheque clearance. Request you to make a note that noncts compliant cheques would. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india.
Contact your nearest nbf branch or call 8008nbf623 in case of any discrepancies. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. Your old cheque leaves may not be valid after march 31, 20, as the rbi has instructed all banks to implement the cheque truncation system. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. However, banks may continue to follow their existing policy regarding cheque book issuance for additional issuance of cheques, in adherence to their accepted fair practices code.