Welcome to Mycarhelpline Community Blog

CTS Cheque. Sample CTS Cheque, Process, Requirement, Deadline

CTS Cheque. Sample CTS Cheque, Process, Requirement, Deadline

CTS Cheque Full Form is Cheque Truncation System. Know about Deadline, Process , Benefits of Issuing CTS Cheque Book 2010 with Sample Cheque


What is CTS

Cheque Truncation implies stopping the physical flow of cheque. Instead of manually transferring cheque from one branch to other branch, under CTS the image captured of cheque along with MICR will be passed on by the drawer branch to the drawee branch

Been, image transferred - This will enable almost same day clearing of funds instead of present scenario which takes 2-5 days and is much dependent on human intervention.

In this Modern age, waiting for 3 days for fund credit so that cheque could clear was a bottleneck, with CTS one can now expect the same day clearance.


Sample CTS Cheque

b2ap3_thumbnail_sample-cts-cheque.jpg

Deadline of CTS

CTS Deadline is till 31st March 2013. As per RBI guidelines, after March 31, 2013, non-CTS-2010 standard compliant cheques will still be accepted for clearing but will be cleared at less frequent intervals. Therefore, we recommend you to place a request for a new cheque book.

The Mandate of CTS is applicable for all Private, National and Foreign Banks operating in India.


Immediate Benefits of CTS

Immediate Benefits are

- Faster Realization of Funds for Customers

- Real Time Tracking with Minimal Human Involvement

- Protection against Fraud with Hidden Bank Logo in Invisible Ink - Only captured when image transferred through CTS

b2ap3_thumbnail_cts-sample.jpg


How to Get CTS Chequebook issued

The new cheque leafs issued by Bank are all having CTS-2010 printed on extreme left. If it is there - you are using CTS Cheque leaf, is not then you can request it Online using Internet Banking, ATM, Branch or even Customer Care on a phone call.

Best Selling Car Models across Countries in World ...
Car Accidents in India. Fines and Penalty on Viola...

Important: If you seek advise or recommendation, pls raise query in Car Forum instead of posting in comments

 

Comments

Post a Comment. Make your Voice Heard
Guest
Sunday, 25 October 2020

Captcha Image