Reserve Bank of India has issued guidelines on standardisation and enhancement 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. RBI has advised all banks to issue only multi-city/payable at par CTS-2010 standard cheques and withdraw Non-CTS-2010 standard cheques by July 31, 2013.
FREQUENTLY ASKED QUESTIONS
Q1: How do I know if my present cheque book is ‘CTS-2010‘ standard compliant?
A: CTS-2010 standard cheques will have letters ‘CTS-2010‘ printed vertically on the cheque leaf (near the perforation on the left side) as shown in the image below.
Q2: My cheque book is CTS-2010 standard compliant. What do I have to do?
A: You can continue to use the same and there is no further action required.
Q3: My cheque book is not CTS-2010 standard compliant. Can I continue to use it?
A: As per RBI guidelines, Non-CTS-2010 standard compliant cheques will be accepted for clearing up to July 31, 2013. Therefore, we recommend you to replace your Non-CTS-2010 cheque book with a new cheque book at the earliest.
Q4: I have issued Non-CTS-2010 standard post dated cheques (PDCs) for repayment of my loan. What do I have to do?
A: You are advised to convert these into Auto Debit or Electronic Clearing Service (ECS) instructions (at locations where ECS/RECS facility is available) OR You can replace the existing Non-CTS-2010 standard PDCs with CTS-2010 cheques (at locations where ECS/RECS facility is not available).
Source- ICICI Bank
All written and spoken in print and digital media. But Banks never mind these issues.
I have not even received a letter from my bank till date though RBI extended the date upto june2013.
Even my enquiry with bank fell on deaf ears. Instead recently in Jan2013,they issued a cheque book in the old form .