Published On: Wed, Dec 19th, 2012

NEW CTS CHEQUE BOOK DATE EXTENDED TO 01.04.2013

By CA Manoj Kohli 19th Dec.,2012 The Reserve Bank of India (RBI) has extended the deadline for implementing the Cheque Truncation System2010 ( CTS- 2010) by another three months. This is the second such extension. Banks have now been asked to ensure all cheques are compliant with CTS- 2010 standards by April 1, 2013. The earlier deadline was December 31, extended from October 1. In a circular(Given below)to banks, RBI also said, “ Residual non- CTS2010 Standard cheques that get presented in the clearing system beyond this extended period ( March 2013) will continue to be accepted for clearing but will be cleared at less frequent intervals.

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