Press Esc to close
Thursday 31 July 2014
News updated at 4:46 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

RBI extends deadline for CTS cheques

Mumbai, Dec 14, 2012, PTI :

Bank account holders can continue to use their old format cheques for another three months as RBI has extended the deadline for banks to issue new cheques with uniform security features till March next year.

The Reserve Bank in a notification on Friday said, “Taking into consideration representations, it has been decided to extend the time up to March 31, 2013 for banks to ensure withdrawal of non-CTS 2010 Standard cheques and replace them with CTS-2010 Standard cheques.”

While most banks have confirmed that they are issuing only multi-city or payable at par CTS-2010 standard cheques at present, representations have been received from various stakeholders requesting for extension of the time beyond December 31, 2012, it said.

The homogeneity in security features of CTS 2010 cheques will act as deterrent against frauds, and the fixed field placement specifications facilitate straight-through-processing at drawee banks’ end through optical or image character recognition technology.


Go to Top

Photo Gallery
India's Navjot Kaur celebrates after winning a bronze medal against Scotland's Sarah Jones during...

India's Navjot Kaur celebrates after winning a bronze medal against Scotland's Sarah Jones during...

U.S. Secretary of State John Kerry and U.S. Secretary of Commerce Penny Pritzker walk from South...

U.S. Secretary of State John Kerry and U.S. Secretary of Commerce Penny Pritzker walk from South...

U S Secretary of State John Kerry shakes hands with National Security Adviser Ajit Doval after...

U S Secretary of State John Kerry shakes hands with National Security Adviser Ajit Doval after...

Sophie McKinna of England sticks her tongue out as she competes in the Women's Shot Put final at...

Sophie McKinna of England sticks her tongue out as she competes in the Women's Shot Put final at...

Australia's Olivia Vivian performs at the women's All-Around Artistic Gymnastics at the 2014...

Australia's Olivia Vivian performs at the women's All-Around Artistic Gymnastics at the 2014...

David Katoatau of Kiribati dances after winning the gold medal of the men's 105kg weightlifting...

David Katoatau of Kiribati dances after winning the gold medal of the men's 105kg weightlifting...

Schillonie Calvert of Jamaica (R) races Anyika Onuora of England during their women's 200 metres...

Schillonie Calvert of Jamaica (R) races Anyika Onuora of England during their women's 200 metres...

Canada's Isabela Maria Onyshko performs at the women's All-Around Artistic Gymnastics at the 2014...

Canada's Isabela Maria Onyshko performs at the women's All-Around Artistic Gymnastics at the 2014...

Silver medallist India's Lalita poses for photographs at the medal ceremony of women's Freestyle...

Silver medallist India's Lalita poses for photographs at the medal ceremony of women's Freestyle...

India's Vijender Singh after winning against Trinidad and Tobago's Aaron Prince in the Men's...

India's Vijender Singh after winning against Trinidad and Tobago's Aaron Prince in the Men's...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523