Saturday, December 15, 2012

Standardisation and Enhancement of Security Features in Cheque Forms

Dear All,
This has reference to the Reserve Bank of India (RBI) Circular
 dated September 03, 2012 regarding 'Standardisation and Enhancement of Security Features in Cheque Forms'.
As per the said guidelines, banks have been advised to issue only 'CTS 2010' standard multicity/Payable at Par cheques to their account holders. Effective December 31st, 2012 usage of non 'CTS 2010' standard cheques would not be applicable with regard to your investments with us.
How to identify a CTS '2010' compliant cheque :
1Bank's logo printed with invisible ink
2Void pantograph
3Cheque printer details/CTS- 2010
4Rupee symbol
5Signature Space Indicator
Please click on the link
 for a sample of a CTS 2010 standard cheque format.You may also consult with your bank for more clarification in this regard.
How does this benefit you?
  • The stronger security features in the CTS-2010 cheque makes it easy for the presenting banks to confirm the genuineness of the drawee banks' instruments.
  • The standardization of security features would act as a deterrent against frauds and enhance customer safety.
  • The fixed field placement would enable easy processing at the drawee banks' end .

No comments:

Post a Comment