Attention: Its time to get your new chequebook

With the implementation of the new Cheque Truncation System (CTS-2010), you may not be able to use your old cheques from next year, which will eliminate physical movement of cheques for clearing

11 Dec 2012 11:37 IST

New Update

If you have already not got the intimation from your banks, this information might be beneficial to you. As per Reserve Bank of India guidelines, there have been certain changes made to the cheques issued by the Bank. However, these changes are available only in chequebooks issued after August 2011. If you have obtained the chequebook prior to this, the cheques will not be valid after December 31, 2012.

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With the implementation of the new Cheque Truncation System (CTS-2010), you may not be able to use your old cheques from next year, which will eliminate physical movement of cheques for clearing.

You may download the RBI notification from: http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/PRGUVE020910.pdf

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