Surrender your old cheque book and apply for new cheque book.(before 31st 2012)

India
November 16, 2012 7:08am CST
Hi, We have been receiving many unwanted promotional emails from our bank, but when comes to providing information or update, they don't take any initiate. Latest update, i got from my one friend as RBI issued guidelines to all banks to withdraw Non CTS 2010 Standard cheques in circulation before 31st December 2012 and implement Standardization and Enhancement of security features in cheques. RBI issued circular dated September 3rd, 2012 and advised banks to withdraw non CTS 2010 Standards cheques in circulation before December 2012. Now what is CTS 2010 If following things are available in your cheque then that is valid after given date 1. mentioned "Sign above" on cheque leaf on right hand side of cheque. 2. A wave like design is embossed on the left hand side of cheque leaflet I am sure many of our Indian Mylot friends are not aware of this information, so first check the details in your cheque book, if such details are not available surrender the old one and apply for new cheques.
1 person likes this
5 responses
DoctorDidi
@DoctorDidi (7018)
• India
24 Nov 12
I have already heard of this recent move to be taken by our banks but was not aware of what CTS 2010 is. Your topic would help not only me but also other Indian mylotters about their responsibilities in dealing with the cheque books.
DoctorDidi
@DoctorDidi (7018)
• India
2 Dec 12
So far I have not received any email from any of my banks. It might be that my email address is not registered with them as the Internet was not available in those days.
Life11211
@Life11211 (452)
• India
2 Dec 12
I completely understand, but you can still do now and get that updated in your bank account. Its very important that mobile number and email address is updated in bank account, as you are Internet savvy. Plus mobile notification help us in many ways, we get notification by sms when we withdraw or deposit or even request for cheque book.
Life11211
@Life11211 (452)
• India
1 Dec 12
Yes infact i guess banks started sending emails too related to this issue. Very recently i got email from bank to apply for new cheque book if not having CTS 2010 cheques.
naruto
@akp100 (13640)
• India
13 Dec 12
Hi Life Thanks a lot for providing useful info. I will check your blog for more info too. I have heard about it in news, and yes it is quite important for all of us. This will effect all businesses. I have also read on one site that big banks like HDFC and ICICI have already issued such new cheque book to their customers. So I guess its already working.
Life11211
@Life11211 (452)
• India
17 Dec 12
Hi, Sorry for late reply. Yes, i guess in order to get new cheque book, you need to place an request and post 31 December 2012, our old cheque will be of no use and will not be acceptable to anywhere. The knowledge i have, about CTS 2010 standard cheques - banks started issuing from Aug 2011, but now they made it compulsory to have all cheques as per CTS 2010 standards. (from Jan 01, 2013)
Always smiling
@allknowing (136579)
• India
16 Nov 12
That's some information life. I shall call up my banks tomorrow and clarify this matter. Thanks for the information.
Life11211
@Life11211 (452)
• India
16 Nov 12
Yes, And this information is also available in bank website. I added images related to this discussion under my photo as letter sample and notification screen shot.
theSids
@thesids (22180)
• Bhubaneswar, India
16 Nov 12
Hi Life As always, you have been missed here much because of the kind of discussions you give us... so informative I didnt know anything about this update from RBI and trust me, the banks would never contact us for anything like this and this misinformation will always create hassles and issues later... I will have to go to the bankers then for handing over my last check book and ask them to issue me a new one. Recently, we have already been in messy situations with the LPG connections here in India. And after waiting in queues for days, they told us that single connections need not update anything and no form is needed. Hope they dont do similar for the Cheque books at the bank.
Life11211
@Life11211 (452)
• India
16 Nov 12
Hi Sid, Thanks. I thought so, as most of times, we get such updates on very last minute. I added images under my photos, as sample of cheque and complete notification. As i am new registered user, i am not suppose to add link or image So image is added under my photos. If you have online access to your bank, surely such information (complete details) is available in your bank website, but the problem is that such update is available in such small fonts, so many find difficult to read, or get noticed. I don't like last minute rush, as cheques are needy every month, i have already applied new cheque book, will get very soon. I will try to use the one with me till December 31st 2012 and then whatever left will surrender. You can do the same, apply for new cheque book, but first use the cheque book you have with you.
smilywomen
@surekharathi (14146)
• India
16 Nov 12
Wow!!! you have lots of knowledge about bank rule thanks to discuss it information about cheque book. Now I think RBI making more rule like paypal autmatic withdraw rule I not know about it but recently started discussion and understand because of reading responses.
Life11211
@Life11211 (452)
• India
16 Nov 12
Thank you friend. About new paypal automatic rules, i am not aware, but i know such rules are active last last two years and after that any change or update, i am not aware of.