Validity of non cts cheque book

If the above letters are present, your cheque book is cts2010 compliant 5. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. The reserve bank of india has extended validity of old cheque book non cts2010 standard up to july 31, 20. Request you to make a note that noncts compliant cheques would not be accepted by banks for clearing post 31 july 20. April 14, 2015 dear all welcome to the refurbished site of the reserve bank of india.

Bank customers do not need to discard their noncts 2010 standard cheque books in a hurry to get their multicity cts2010 standard cheque leafs. Mar 28, 2018 april 14, 2015 dear all welcome to the refurbished site of the reserve bank of india. Also already circulated cheques will be replaced within 31st december 2012. Aug 28, 20 28 august 20 if the date on the cheque has been put by the person who gave you the cheque, and if the cheque had been duly signed by him, then whether the cheque is of 10year old or 1 day old will have no bearing. Noncts2010 complaint cheques valid up to jul20how does this impact you. Sep 06, 2018 non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification.

If you have availed a home loan and or auto loan and issued postdated cheques instead of opting for direct debit, then you will be required to replace such. Oct 17, 2017 no any cheque that is a non cts cheque will be returned by the bank as not a valid instrument under ni act. Rbi extends deadline for noncts cheques till july 31. As per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20.

Get your non cts cheque book replaced immediately, it said. But due to unawareness in customers, around 50% do not surrender the old cheque book. December 31st is the last day of using noncts cheques for account holders of all banks including sbi state. You should ask for a new cts compliant cheque from the drawer. People who fail to get their old cheques replaced by december 31, 2018, wouldn t. If you havent switched to cts cheques, you have 4 more months. A reproduction of the sample cheque available on rbis website. Sbi, hdfc, pnb, icici, bob, other bank customers these to become invalid noncts 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. Currently, non cts cheques are processed once in a week i. What should i do if i receive a non ctscompliant cheque. In case your cheque is not cts2010 compliant, you can request for a new cheque book by logging in to citibank online. In case if your cts 2010 cheque book, you must obtain a new cts complied cheque book, and surrender the non compliant one to the bank.

If the cheque book is not with cts2010 cheque leafs, they are referred to as noncts cheque books. Delhi high court has allowed a complainant to file appeal against acquittal of a person accused of cheque bounce case where the defence was that the said cheques were noncts cheques and were not in circulation. Cheque truncation system cts is the system in which the flow of physical movement of the cheque will be eliminated in the cheque clearing process. Noncts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification.

All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. Get your noncts cheque book replaced immediately, it said. Cheque books of these banks valid only till december 31. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts2010 are aimed at enhancing customer safety and facilitating easier processing of cheques. People who fail to get their old cheques replaced by december 31, 2018, wouldnt. What should i do if i receive a non cts compliant cheque. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. The usual period is 6 calender months unless it is a divident cheque which states on it that it is valid for 12 months or a dhss cheque, i think with only a 3 month validity, hope that helps. So it is necessary for all to understand how your new cheque format looks like. Validity of a cheque issued from an old cheque book of ten years. Rbi extends deadline for noncts cheques till july 31 india. Apr 29, 2014 non cts cheques may face further clearance delay from may 1. Here it seems you are asking about a cheque which is signed but not dated and no other details are filled in.

No longer will you be able to use non cts cheques and sbi customers will not be able to do so from december 12, while other bank customers will not be able to use non cts cheques from january 1. December 31st is the last day of using non cts cheques for account holders of all banks including sbi state bank of india, hdfc, punjab national bank, icici, bank. Blank dated but signed noncts cheque with ac payee experts, ive x blank dated noncts idbi cheques for y lakh amounts each, are duly signed and filledup except the dates. Identify whether your existing bank accounts cheque books are cts2010 compliant request for a new cheque book, if required also, please note that rbi has advised all banks holding postdated emi cheques to arrange for replacement of noncts2010 standard cheques with cts2010 standard cheques. Withdrawal of non cts cheques by june 2017 idbi bank. December 31st is the last day of using noncts cheques for account holders of all banks including.

Around three months ago, the reserve bank of india had issued a guideline for noncts cheques saying that these would be rendered invalid from january 1. If non cts cheque is issued by you and if your bank had notified its customers to suurender cts cheque and to receive new cheque book then your bank never. Request you to make a note that non cts compliant cheques would not be accepted by banks for clearing post 31 july 20. The cheque truncation system cts is an online imagebased cheque clearing system implemented on 12 july 2003. Rbis new circular for noncts cheques june 2018 youths area. Noncts cheques may face further clearance delay from may. Can i deposit a non cts cheque in a home branch for clearing. Please look for the letters cts2010 printed perpendicularly on the cheque leaf near the perforation on the left side as shown in the image. For the past 6 months, rbi has been announcing several times saying noncts2010 compliant cheques would be valid up to specific period. Cts is based on a cheque truncation or online imagebased cheque clearing system where cheque images and magnetic ink character recognition micr data are captured at the collecting bank branch and transmitted. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque truncation system cts centres for another four months up. Important message cts 2010 regulation applicable to cts.

International helpline 91446685 4555 or your relationship manager to request for a new cheque book. Instead, an electronic image of the cheque will be sent to paying branch through the clearing house along with relevant information like data on the micr band, date of presentation. Validity of a cheque issued from an old cheque book of ten. 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. Request new cheque book by december 31, 2017 account holders of the erstwhile associate banks can now apply for new cheque books till december 31. Procedural guidelines for cheque truncation system cts. A new circular, dated 26 june 2018, has been issued by reserve bank of indiarbi to all the banks regarding processing of noncts cheques. Dec 19, 2018 if you are still in possession of non ctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. Cts 2010 standard cheques will be cleared on all working days.

Noncts cheques may face further clearance delay from may 1. Mar 19, 20 all residual non cts 2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque truncation system cts centres for another four months up to. 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. In case if your cheque book does not reflect the aforementioned details you must obtain a new cts complied cheque book at the earliest, and surrender the non compliant one to the bank. Today is last day for nonchip cards, saving on belated itr fee, noncts cheques 31 dec, 2018, 04. As per guidelines, non cts 2010 cheques issued by bank in india will be withdrawn from circulation by march 31, 20.

The cheque truncation system cts is a process of stopping flow of physical cheque in which an electronic image of the instrument is presented when it comes. Mr,x having non cts cheque now he is blackmailing more money after paid more also. Non cts cheque bounce and validity in 2016 lawrato. You can also request for a new cheque book through dbs atm or internet banking. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of 31 july. The validity of the cheque is from the date of the cheque and not from the date when the cheque book was issued by the bank to the account holder.

The validity of the cheque is from the date of the cheque and not from the date when the cheque book was issued by the bank to the. As banks are advised to comply with cts2010 standard and security printers also do not print noncts cheques, the number of noncts cheques are declining continuously. If you are still in use of nonctc cheque books, then it is in your own. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. Dec 23, 2012 validity of non cts 2010 cheques extended by another 3 months. And the customers to this respect have been asked to get their noncts cheque book replaced and instead get the new cts2010 standard. Blank dated but signed non cts cheque with ac payee experts, ive x blank dated non cts idbi cheques for y lakh amounts each, are duly signed and filledup except the dates. The central bank has said that the use of the noncts cheque book will be completely closed from 1 january 2019. Non cts cheque bounce and validity in 2016 free legal advice. Around three months ago, the reserve bank of india had issued a guideline for non cts cheques saying that these would be rendered invalid from january 1.

Mar 18, 20 cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard cheques in circulation before the extended timeline of july 31, 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard. Non cts cheques may face further clearance delay from may 1. Cts2010 cheques have certain common security features and standardised field placements for enabling image based processing of. May 14, 2020 today is last day for non chip cards, saving on belated itr fee, non cts cheques 31 dec, 2018, 04. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts2010. In case if your cheque book does not reflect the aforementioned details you must obtain a new cts complied cheque book at the earliest, and surrender the noncompliant one to the bank. Validity of non cts cheques extended as per the revised guidelines of rbi the validity of noncts compliant cheques have been extended till 31st a july 20. As banks are advised to comply with cts 2010 standard and security printers also do not print non cts cheques, the number of non. Validity of noncts 2010 cheques extended by another 3 months.

No any cheque that is a non cts cheque will be returned by the bank as not a valid instrument under ni act. A new circular, dated 26 june 2018, has been issued by reserve bank of indiarbi to all the banks regarding processing of non cts cheques. Noncts cheques used by customers of all banks including state. 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. Currently, noncts cheques are processed once in a week i. All banks that issue sgd cheques and local usd cheques are on cts. 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 books latest by december 31. All residual noncts2010 cheques with customers will continue to be valid and accepted in all clearing houses including the cheque. Refer to section 6 of negotiable instruments act and s. As per the rbi guideline, noncts cheque will become inivalid from 1 january. So, the validity of non cts cheques is again extended, this time upto 30th april 2014. One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise.

It is illegal to issue a blank or post dated cheque. Old cheque book validity extended up to 31 march 20. Cheque issuing banks shall make all efforts to withdraw the non cts 2010 standard. Sep 03, 2012 it is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. If you have availed a home or auto loan and issued postdated.

Check your current cheque book is it valid new cts. Rbi guidelines on standardization of security features for cheque leaves, referred to as cts 2010 are aimed at enhancing customer safety and facilitating easier processing of cheques. Validity of non cts cheques extended chequeman blog. No clearance of noncts compliant cheques from january. Jan 15, 2014 non cts compliant cheques cheques not compliant to the cheque truncation systemcts 2010 standards will be cleared thrice a week only, until 30 april, 2014. So rbi needs to extend the validity of old non cts2010 standard cheque book up to 31 march 20. Rbi wants to implement cts2010 cheque standard as soon as possible. Important message cts 2010 regulation applicable to. Many banks have still not asked their customers to surrender the noncts 2010 cheque books to reflect the change, a. Cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commenced in 2010, for faster clearing of cheques. If the cheque book is not with cts 2010 cheque leafs, they are referred to as non cts cheque books. Rbi extends cheque upgradation deadline till march next year 14 dec, 2012, 07. Many banks have still not asked their customers to surrender the non cts 2010 cheque books to reflect the change, a crosssection of. Non cts compliant cheques cheques not compliant to the cheque truncation systemcts 2010 standards will be cleared thrice a week only, until 30 april, 2014.

Sep 14, 2015 cheque truncation system cts is the system in which the flow of physical movement of the cheque will be eliminated in the cheque clearing process. As per guidelines, non cts2010 cheques issued by bank in india will be withdrawn from circulation by march 31, 20. Cheque issuing banks shall make all efforts to withdraw the noncts2010 standard cheques in circulation before the extended timeline of 31 july 20 by creating awareness among customers through sms alerts, letters, display boards in branchesatms, logon message in internet banking, notification on the website etc, rbi said. Most banks have already stopped clearing non cts cheques since january 1, 2019. Non cts compliant cheques cheques not compliant to the cheque truncation system cts 2010 standards will be cleared thrice a week only, until 30 april, 2014. No clearance of noncts compliant cheques from january 2019. Person a who issued this cheques to person b few years back in exchange of some money transfers from account of b to a. Now, old cheque is valid up to july 31 goodreturns. All the banking participants, be it banks, or bank customers or loan companies or security printers or courier folks, were working overtime in the last couple of months, to be ready for the cts 2010 cheques from 010120. The cheque truncation system cts is a process of stopping flow of physical. As per the revised guidelines of rbi the validity of non cts compliant cheques have been extended till 31st a july 20. Noncts cheques to become invalid from january 1 goodreturns. If you are still in possession of non ctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. You should ask for a new ctscompliant cheque from the drawer.

Will my old cheques that are not cts2010 still work. The reserve bank of india has extended validity of old cheque book non cts 2010 standard up to july 31, 20. Cts is based on a cheque truncation or online imagebased cheque clearing system where cheque images and magnetic ink character recognition micr data are captured at. Bank customers rbi new guidelines 2019 non cts cheques stop.