Press Esc to close
Friday 30 January 2015
News updated at 12:58 AM IST
Weather
Max: 28°C
Min : 17°C
In Bengaluru
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
A groom leads his horse in the equine pool after working out on the track, during early morning...

A groom leads his horse in the equine pool after working out on the track, during early morning...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

A handler bathes a horse after a training session ahead of the Indian Derby in Mumbai...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

Ladakhi women offering prayers during the inauguration of traditional Buddhist prayer...

A Police man takes pictures as the Raisina Hill which houses India's most important ministries...

A Police man takes pictures as the Raisina Hill which houses India's most important ministries...

A man walks on a snow covered path after in Srinagar on Thursday. Temperatures drop due...

A man walks on a snow covered path after in Srinagar on Thursday. Temperatures drop due...

A scene after light snow fall at Dal Lake in Srinagar on Thursday...

A scene after light snow fall at Dal Lake in Srinagar on Thursday...

Migratory seagulls are seen above the river Ganga during Magh Mela in Allahabad...

Migratory seagulls are seen above the river Ganga during Magh Mela in Allahabad...

President Pranab Mukherjee leaving for Beating Retreat ceremony from forecourt...

President Pranab Mukherjee leaving for Beating Retreat ceremony from forecourt...

School children perform during presentation of National Bal Shree Honour 2011 & 2012...

School children perform during presentation of National Bal Shree Honour 2011 & 2012...

Bollywood actor Anil Kapoor during inauguration of International Bicycle & Fitness Expo...

Bollywood actor Anil Kapoor during inauguration of International Bicycle & Fitness Expo...

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