Cheque truncation system cts is a cheque clearing system undertaken by the reserve bank of india rbi for faster clearing of cheques. We would like to bring to your notice that reserve bank of india rbi has further updated its guidelines on standardisation of security features for cheque leaves referred to as cts 2010. Banking, bearer cheque, check status online, cheque book, cheques, cts 2010, internet banking, kotak mahindra bank, net banking. As per rbi, banks are advised to issue only cts2010 standard cheques to their customers. 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. Customers should make note of the above guideline while depositing the cheque as the non cts 2010 instruments will be credited debited to accounts as per the.
Every account holder must deposit their non cts cheques and cheque books in their respective branch and get new cheque leaves or books as per the new cts 2010 standard. Though banks have started issuing new cts 2010 based cheque books to customers, a large number of non cts 2010 standard cheques are still being used. Incase the cheque book you currently have is not cts 2010 compliant as per the above features we request you to immediately order a new cheque book. Cts 2010 is applicable to all the banks in india, including state bank of india sbi, andhra bank, axis bank, icici bank, citibank n. Its mentioned on the side line of the cheque as cts 2010 to identify whether its cts 2010 standards or not. What is the format of cts2010 standard cheque book. Learn how to request a cheque book using mobile banking through our interactive check book request demo. The lender is preparing to send the new series of cts compliant cheque books by december 15, 2012. The reserve bank of india rbi in its statement on developmental and regulatory policies issued today has informed that the cheque truncation system cts, which is currently operational at the. Cheque book request for specified account of icici bank. Services offered by imobile transfer funds, bill payments, book tickets or movie. Ltd and icici bank ltd have put a notification about cts2010 cheques on. 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 latest by december 31.
Rrbs lax in adapting to new ctc cheque format lucknow. Inward clearing,which is the process for debiting the account as mentioned in the cheques takes place in early hours of the day,that is the reason the messages regarding debiting the account are recei. This hotel is offering luxury office rooms with highspeed internet, espresso machines. Your cheques can be permanently banned after january 1. I have applied for a new cheque book and i want to know the status. Check your current cheque book is it valid new cts. Now, old cheque is valid up to july 31 goodreturns. I transferred my sbi acnt to another branch, but i had the. Icici bank is one of the biggest and most trusted banks which is operating in india. Mridula bhagwat, have opened and closed many bank accounts and fds.
Ctc cheks are only valid for issue to parties through clearing. How frequently will these separate clearing sessions for non cts 2010 standard compliant cheques be operated. This exercise will continue in the coming months through emails and messages on the call centre ivr interactive voice response. Operations in the new generation private banks like icici bank, hdfc bank, axis bank were almost normal, barring few activities including cheque clearance. 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. Tips to replace non cts 2010 compliant cheques 22 apr, 20, 03. What does cts 2010 noncompliant cheque mean in icici.
Sbi customers should encash any non cts cheques before december 12, customers of other banks can encash before december 31. In summary, your old checks will continue to work, but it will eventually take more and more time for the clearence of the checks. How to apply for cheque book online icici bank new cheque book request online icici bank. As per rbi guidelines, non cts 2010 standard compliant cheques will be accepted for clearing up to july 31, 20. Beware of fictitious offers money transfer to india. Mobile banking cheque book request demo icici bank. Cbs enabled banks should issue only payable at par cheques. Important notification from rbi regarding cts 2010 standard cheques. As per rbi mandate, the same old format cheques are to be accepted till december 31, 2012. How to new cheque book issue online track new cheque book icici bank. You will receive a confirmation message regarding your acceptance of your request for a new cheque book.
Non cts 2010 cheques will take much longer to clear. How to apply for cheque book with icici bank new cheque. The customers who have deposited non cts cheques as postdated cheques pdcs for emis to a finance company, or bank for repayment of a loan, will have to replace these with the compliant ones for instalments after 31 july. So please verify whether cheque book you have a already cts 2010 before rushing to bank to get a new one.
But butbut where your account goes ifsc code changes to that branch. In an official notice on its website, hdfc bank says separate sessions for clearing of non cts cheque will be discontinued from december 31. 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. As far as my knowledge icici use to issue passbooks only on requests from an individual customer as per the rbi guidelines. Read more about check your cheque on business standard. 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. The deadline for switching to new format bank cheques under the cheque truncation system cts ended on wednesday. Will a 2yearold checkbook issued in 2015 from icici bank. Therefore, we recommend you to destroy your old non cts 2010 standard cheque book and place a request for a new cheque book. Customers should make note of the above guideline while depositing the cheque as the noncts 2010 instruments will be credited debited to accounts as per the schedule mentioned above.
We would like to inform you that we have been issuing cts 2010 compliant cheque books since april 2011. Follow uniform holiday calender for cts cheque clearing. 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. These features are aimed at enhancing customer safety and facilitating easier processing of cheques. Reserve bank of india has issued guidelines on standardisation and enhancement of security features for cheque leaves referred to as cts 2010. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. Banks like icici bank and axis bank had already started issuing cts 2010 compliant cheque books since last year.
Sbi to send new cheque books by dec 15, update your. Effective december 31st, 2012 usage of non cts 2010 standard cheques would not be applicable with regard to your investments. Get your noncts cheque book replaced immediately, it said. And the customers to this respect have been asked to get their non cts cheque book replaced and instead get the new cts 2010 standard chequebook for free. Icici bank has also requested the customers to surrender their old cheque books at the branches and request for new cts 2010 standard cheque books, an icici bank spokesperson said. These cheques have cts 2010 printed near the left margin. Cts 2010 standards cheques issued have the following distinguishing features.
Also already circulated cheques will be replaced within 31st december 2012. All those who have yet to apply for the new cts 2010 cheque format need to do so before marchend as all banks would necessarily adapt to the new te. Cheque truncation system new benchmark for cheques in banks. So it is necessary for all to understand how your new cheque format looks like. Therefore, we recommend you to replace your non cts 2010 cheque book with a new cheque book at the earliest. This hotel is offering luxury office rooms with highspeed internet. 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. Cts2010 standard cheque book issued to the customers will have cheque leaves with letters cts2010 printed vertically on the cheque leaf near the. Within seven working days, i got my new cheque book by courier. How much time does a bank take to credit a cheque after. As per guidelines, non cts2010 cheques issued by bank in india will be. Standardisation and enhancement of security features. View image above if your cheque is not of cts 2010 standards then you need to apply for new cheque book of this standard and surrender the older cheques. Sbi, hdfc, pnb, icici, bob, other bank customers these to become invalid.
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. Fintotal news analysis noncts2010 cheques will take. Delay in clearance of non cts cheque truncation system cheques by banks are holding up tax payments adding to woes of traders and entrepreneurs. How to order cheque books online in kotak mahindra bank. The reserve bank of india has extended validity of old cheque book non cts 2010 standard up to july 31, 20. And you must do it latest by december 31, 2018, if you dont want your cheques to. Bank 247 through a widespread network of over 5,275 branches and 15,682 atms explore investor relations regulatory disclosure section icici bank answers safe banking rbi. Cts news and updates from the economic times page 2. How to apply for cheque book with icici bank new cheque book request online icici bank 6. Sbi customers can deposit their non cts cheque in their respective branch and get free new cts 2010 standard chequebook. If you have any cheque that does not conform to cts 2010 and pending encashment, you should not delay its encashment.
The bank will dispatch the booklet within 7 working days at your registered postal address. 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. There are many people out there who own a bank account with icici bank and are also quite happy with the banking services offered by the bank. So if want to have passbook for your account, you can walk down to any branch of icici bank ltd and request for the same bu. So, better hurry up if you havent got your old cheque books replaced with cts 2010 standard cheque books. If you havent received the new form of cheque books, ask your bank to replace the old cheques and issue new cheque book. Over the past month, you must have got a letter, an email or an sms from your bank asking you to surrender your old cheque book and collect the new cheque book before december 31, 2012. How to do cheque book request for specified account in icici bank a step by step tutorial, step 1 type icbr in your registered mobile. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Despite the advent of ebanking and now mobile banking, cheques still play a very.
Or you can just order a new chequebook and cancel the old cheques. Everything you need to know about cts 2010 cheques. How to new cheque book issue online track new cheque. Most of the account holders even like to recommend this bank to their friends and family. Careless markings on cheques may cost you a tidy sum the. To safeguard the cheques issued from icici bank savings account, a new. This is after taking into consideration the availability of processing infrastructure for clearing outstation cheques at all clearing locations across the country and to bring about further.