Important Notification from RBI regarding CTS-2010 Standard Cheques
We would like to bring to your notice that Reserve Bank of India has further updated its guidelines on standardisation of security features for cheque leaves referred to as CTS-2010. These features are aimed at enhancing customer safety and facilitating easier processing of cheques.
As per the directives issued by Reserve Bank of India (RBI), for Standardisation and Enhancement of Security Features in Cheque Forms – Migrating to CTS-2010 standards, all branches have been issuing only CTS-2010 Standard Cheques to customers.
In this regard, we wish to inform that the CTS-2010 standard Cheque book issued to the customers will have cheque leaves with letter 'CTS-2010' printed vertically on the cheque leaf (near the perforation on the left hand side).
RBI has also advised Banks to withdraw non-CTS-2010 standards cheques in circulation before July 31, 2013 and replace them with CTS-2010 standards cheques.
Accordingly, we request our customers to surrender their existing non-CTS-2010 standards cheques at any of our branches on or before July 31, 2013 and place a request for issuance of CTS-2010 standards cheques.
Further, In case you have issued non-CTS-2010 standard Post-Dated Cheque(s) (PDCs)/Equated Monthly Instalment (EMI) Cheques for repayment of your loan, you are advised as under:
We would like to bring to your notice that Reserve Bank of India has further updated its guidelines on standardisation of security features for cheque leaves referred to as CTS-2010. These features are aimed at enhancing customer safety and facilitating easier processing of cheques.
As per the directives issued by Reserve Bank of India (RBI), for Standardisation and Enhancement of Security Features in Cheque Forms – Migrating to CTS-2010 standards, all branches have been issuing only CTS-2010 Standard Cheques to customers.
In this regard, we wish to inform that the CTS-2010 standard Cheque book issued to the customers will have cheque leaves with letter 'CTS-2010' printed vertically on the cheque leaf (near the perforation on the left hand side).
RBI has also advised Banks to withdraw non-CTS-2010 standards cheques in circulation before July 31, 2013 and replace them with CTS-2010 standards cheques.
Accordingly, we request our customers to surrender their existing non-CTS-2010 standards cheques at any of our branches on or before July 31, 2013 and place a request for issuance of CTS-2010 standards cheques.
Further, In case you have issued non-CTS-2010 standard Post-Dated Cheque(s) (PDCs)/Equated Monthly Instalment (EMI) Cheques for repayment of your loan, you are advised as under:
- At location where Electronic Clearing Service (ECS)/Regional ECS (RECS) is available, You are advised to convert these non-CTS-2010 standard PDC/EMI Cheques into auto debit or ECS/RECS instructions.
- At location where Electronic clearing service (ECS)/Regional ECS (RECS) are unavailable, you can replace the existing non-CTS-2010 standard PDC/EMI with CTS-2010 standard cheques.
