Saturday, December 1, 2012

Only CTS 2010 Standard Cheque Forms to work in India from 2013

As part of standardisation and enhancement of security features in cheque forms, RBI wide its circular dated 03/09/12, has advised all banks in India to withdraw non-CTS 2010 standard cheques in circulation before December 30, 2012. Non-CTS 2010 cheque will not be accepted in clearing from January 1, 2013. All banks have issued relevant notices in this regard.
Here is the RBI link for a simple understanding of the CTS (Cheque Truncation System)-2010 standard cheques:
You may like to check with your bank(s) on this.

Sample CTS 2010 Cheque Leaf

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