is-your-cheque-valid-from-01-jan-2013
Non -CTS cheques Validity is extended upto 31 Jul 2013 by RBI. See RBI Circular extending non CTS-2010 cheque validity upto 31 Jul 2013
Update 2: In a second extension of deadline for implementation of CTS-2010 Cheques, RBI extended date to 31 Jul 2013. It implies all Non-CTS cheques will be valid upto 31 Jul 2013. This will be again reviewed in Jun 2013.
Update: RBI has extended the mandatory implementation of CTS-2010 based cheque system by 3 months and old cheques will be valid till 31 Mar 2013.
RBI has introduced CTS (Cheque Truncation System) to make the processing and transmission of cheques much easier, faster and secure. Banks started sending SMS and mails to their clients to switch to CTS-2010 based cheque books but it is estimated that even now more than 60% of bank customers are not aware of this rule. You need to know is-your-cheque-valid-from-01-jan-2013 so that your cheques are not dishonoured from 01 Jan 2013.
CTS – 2010 based cheques will have uniform features across all banks which will be image friendly to compliant with image based processing. At present all the cheques deposited are moved physically from bank to bank for processing. With new CTS-2010 standard cheques, only scanned images of cheques along with specimen signatures are passed electronically. CTS-2010 based cheque processing will help to reduce clearing time substantially, save logistic costs to banks moving from place to place and help to utilize manpower more efficiently.
is-your-cheque-valid-from-01-jan-2013
Clients will benefit from CTS-2010 based cheques as they will help their cheuques cleared almost in real time. The CTS-2010 based cheque processing is already in practice on test basis and after 31 Dec 2012 all the bank branches have to compulsorily follow CTS-2010 based cheque processing system. Clients must note that even post dated cheques submitted earlier need to be replaced with CTS-2010 compliant cheques, else they will not be honoured after 31 Dec 2012
Above is a CTS-2010 compliant format cheque. You might be having old cheques if your cheque book was issued before Aug 2011. Watch for wave like design on the cheque on the left hand side bottom of the cheque and please sign above printed on the bottom right hand side. If you have these cheques you can be assured that your cheque processing will be without any problem after 31 Dec 2012 (wef 01 Jan 2013). If you do not have one, get it before 31 Dec 2012