March 18, 2013
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks/Local Area Banks
Madam / Dear Sir
Standardization and Enhancement of Security Features in Cheque Forms/Migrating to CTS 2010 standards
A reference is invited to our circular DPSS.CO.CHD.No. 955/04.07.05/2012-13 dated December 14, 2012. On a review of the progress made by banks so far in migration to CTS-2010 standard cheques and in consultation with a few banks and Indian Banks Association, it has been decided to put in place the following arrangements for clearing of residual non-CTS-2010 standard cheques beyond the cutoff date of March 31, 2013.
2. The above instructions are issued under section 18 of the Payment and Settlement Systems Act 2007 (Act 51 of 2007).
3. Please acknowledge receipt and confirm compliance.
Chief General Manager
Report showing the progress made in the issuance of CTS-2010 standard cheques and replacement of non-CTS-2010 standard cheques for the month of …………….
(Consolidated report to be submitted by the corporate/head office of all cheque issuing banks to the Department of Payment and Settlement Systems, Central Office, Reserve Bank of India, Mumbai before 10th of the succeeding month)
|1. Name of the Bank||:|
|2. Date with effect which the bank has commenced issuing CTS-2010 Standard cheques across all branches||:|
|3. Number of accounts to which CTS-2010 standard instruments are yet to be issued||:|
|a) Savings Bank Accounts||:|
|b) Business Accounts||:|
|4. Briefly describe the efforts taken by the bank to replace the non-CTS-2010 standard cheques with the CTS-2010 standard compliant cheques||:|