Press Esc to close
Sunday 25 September 2016
News updated at 5:18 PM IST
Weather
Max: 25.8°C
Min : 19.6°C
In Bengaluru
Generally cloudy

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
Army personnel arrive to help flood affected people in Hyderabad...

Army personnel arrive to help flood affected people in Hyderabad...

Prime Minister Narendra Modi with BJP President Amit Shah wave to the crowd at public rally...

Prime Minister Narendra Modi with BJP President Amit Shah wave to the crowd at public rally...

Thangavelu Mariyappan who won the gold in the Paralympics in Rio de Janeiro...

Thangavelu Mariyappan who won the gold in the Paralympics in Rio de Janeiro...

A view of regular traffic during relaxation given by authorities and separatists from strike...

A view of regular traffic during relaxation given by authorities and separatists from strike...

A truck hangs mid-air after breaking the railing of a road bridge over Manjira river in Medak...

A truck hangs mid-air after breaking the railing of a road bridge over Manjira river in Medak...

Cricketer M.S. Dhoni at the launch of refurbished edition of Maruti Suzuki's Alto 800...

Cricketer M.S. Dhoni at the launch of refurbished edition of Maruti Suzuki's Alto 800...

An artist takes selfie with other artists in Ahmedabad on Saturday...

An artist takes selfie with other artists in Ahmedabad on Saturday...

Indian Space Research Organisation's PSLV-C35 ready to be launch on Saturday with SCATSAT-1...

Indian Space Research Organisation's PSLV-C35 ready to be launch on Saturday with SCATSAT-1...

People participate in a protest by Maratha Karnti Morcha against Kopardi Rape case in Nashik...

People participate in a protest by Maratha Karnti Morcha against Kopardi Rape case in Nashik...

Soldier carrying weapon at a location near the Indo-Pak border in Jammu...

Soldier carrying weapon at a location near the Indo-Pak border in Jammu...

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