Press Esc to close
Thursday 30 July 2015
News updated at 11:36 PM IST
Weather
Max: 19°C
Min : 32°C
In Bengaluru
Rain lightly

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
People worship a bull during Bendur festival in Sangli on Wednesday...

People worship a bull during Bendur festival in Sangli on Wednesday...

Fire brigade and NDRF personnel rescue a person stuck in the three floor Matru-Chhaya...

Fire brigade and NDRF personnel rescue a person stuck in the three floor Matru-Chhaya...

Students of Patna Women's College wear tiger masks to create awareness to save tigers...

Students of Patna Women's College wear tiger masks to create awareness to save tigers...

Monsoon clouds over the Royal Palace in Agartala on Wednesday...

Monsoon clouds over the Royal Palace in Agartala on Wednesday...

Police firing tear gas shells to disperse protesters at a mass protest rally on the second...

Police firing tear gas shells to disperse protesters at a mass protest rally on the second...

Tamil Nadu Governor K Rosaiah pays his last respects to the former president APJ Abdul...

Tamil Nadu Governor K Rosaiah pays his last respects to the former president APJ Abdul...

School students hold up a picture in tribute to former President APJ Abdul Kalam in Gurgaon...

School students hold up a picture in tribute to former President APJ Abdul Kalam in Gurgaon...

A Military Vehicle carrying the mortal remains of former President APJ Abdul Kalam...

A Military Vehicle carrying the mortal remains of former President APJ Abdul Kalam...

Tri-services personnel carry the mortal remains of former President APJ Abdul Kalam...

Tri-services personnel carry the mortal remains of former President APJ Abdul Kalam...

Soldiers escort a gun carriage carrying the body of former Indian President A. P. J. Abdul Kalam...

Soldiers escort a gun carriage carrying the body of former Indian President A. P. J. Abdul Kalam...

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