Is non-CTS cheque still valid?
Only CTS 2010 compliant instruments can be presented for clearing through CTS. The separate non-CTS clearing sessions in CTS grid centres was discontinued with effect from December 31, 2018.
Are non-CTS cheques still valid in 2019?
Most banks have already stopped clearing non- CTS cheques since January 1, 2019. if you are still holding a non- CTS cheque book, it is better you get it replaced from your banker. If the cheque book is not with CTS-2010 cheque leafs, they are referred to as non-CTS cheque books.
Are non-CTS cheques still valid in 2018?
“People who fail to get their old cheques replaced by December 31, 2018, would not be able to get their cheques cleared as separate fortnightly clearing for non-CTS cheques would be discontinued after December 31, 2018, as mandated by the RBI,” informs Arora.
How long is a cheque valid from date of issue?
Revised validity period of Cheques, Drafts, Pay Orders & Banker’s Cheques. As per RBI guidelines, with effect from April 1, 2012, the validity period of Cheques, Demand Drafts, Pay Orders and Banker’s Cheques will be reduced from 6 months to 3 months, from the date of issue of the instrument.
How we can identify non CTS cheque?
Non-CTS Cheque means a cheque used by the banking institution that cheque leaf not have a watermark and not mention IFSC code and branch name this checkbook doesn’t use magnetic ink and not mention CTS 2010.
Can I deposit non-CTS cheque?
SBI customers can deposit their non-CTS cheque in their respective branch and get free new CTS-2010 standard chequebook. In an official notice on its website, HDFC Bank says separate sessions for clearing of non-CTS cheque will be discontinued from December 31.
How do I get a non-CTS cheque cleared?
So if you are still holding a non-CTS cheque book, then you should ask your bank to issue a fresh cheque book. All the banks are now required to issue CTS-2010 cheques only.
Are old cheques still valid?
“The old cheque book of eOBC and eUNI are going to be discontinued from 1-10-2021. Please replace your old cheque book of e-OBC and e-UNI with the PNB cheque book with updated PNB IFSC and MICR,” PNB posted on Twitter.
Are cheques valid after 6 months?
In the UK, cheques are technically valid until they’re paid-in. However, most banks will only accept cheques that are less than six months old. If you have a cheque that’s more than six months old, though that cheque’s still technically valid, don’t be surprised if your bank refuses to accept it!
What is the difference between CTS and non-CTS cheque?
With images form of a cheque, the bank sends its information like MICR code, date of presentation, presenting bank, etc. In a CTS cheque a watermark is mention in cheque but in a non-CTS cheque, it is not available. non-CTA cheque also accepted by banks but on a frequent basis.