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Thread: Cheque Truncation System 2010. Check your cheques

  1. #1

    Lightbulb Cheque Truncation System 2010. Check your cheques

    The Reserve Bank of India has instructed all banks in the Nation to issue CTS 2010 cheque books to the customers. These are cheques conforming to the Cheque Truncation System (CTS) 2010 standard with uniform features.

    If you have not yet surrendered your old cheque books, please do it immediately and get the new CTS 2010 cheque books since the old leaves will not be valid from January 2013.

    If you have already issued post dated cheques to companies or individuals, make sure you replace them with the new ones or inform your bank to honor the old cheques when presented.

    More details are available at: http://www.ias100.in/news_details.php?id=743

    http://articles.economictimes.indiat...ncation-system

    Check your cheque leaves before you issue them...

  2. #2

    Default

    Banks and customers have been given some more time for CTS implementation. The old cheque leaves may be used till March 31, 2013. But be sure to collect your CTS 2010 cheque books in the meantime so that you can use them from March 31st. The old ones will be invalid and rejected when you present them in clearing...

  3. #3
    niche
    Guest

    Default

    CTS2010 has been implemented from January 1, 2014 , now the banks are insisting on CTS2010 cheques.


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