Your New Cheques

 The new Cheque Truncation System (CTS-2010) will eliminate physical movement of cheques for clearing. Instead, only their electronic images, along with key information, will be captured and transmitted. It will make the clearing process more efficient, secure and quicker.

If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. Since most banks have already migrated to the new system, chances are that your bank would have sent you CTS-compliant cheque leaves.However, if you have received the cheque book more than two or three months ago, you need to run a status check. For instance, the compliant ones will have the new rupee symbol inscribed near the numerical ‘amount’ field.The new cheques will also have “Please sign above”  mentioned on the cheque leafs on right had side bottom; and, a void pantograph (wavelike design)  embossed on left hand side of the CTS cheque leaf. Read more of this post