You need to have internet banking facility available in hdfc bank to request for cheque books through online banking. After i placed a request for new cheque book, i found that my existing cheque book issued to me in mar2012 was already a cts 2010 one. After both of you have obtained the cheque books, you may proceed further. Cts is based on a cheque truncation or online imagebased cheque clearing system where cheque images and magnetic ink character recognition micr data are captured at the collecting bank branch and transmitted. How to request for cheque book in hdfc online finances rule. Most banks have already stopped clearing non cts cheques since january 1, 2019. Cheque return policy the main objective of cheque return policy is to identify the situations under which an instrument presented by the presenting bank, in either cts or micr clearing, is returned. Non cts cheques may face further clearance delay from may 1. If you have an account in hdfc bank then you must have the idea, how to apply for hdfc bank cheque book. After the sale deed is registered buyer may deposit his cheque collected from hdfc bank on the spot in his hdfc bank ac for instant credit of funds. Cheques drawn on bank branches at outstation centers will be collected using interbranch arrangements in vogue. The cheque truncation system cts is a process of stopping flow of physical cheque in which an electronic image of the instrument is presented when it comes. Cheque truncation system cts 2010 standards bankbazaar.
Non cts cheques used by customers of all banks including state bank of india sbi, hdfc bank, icici bank, bank of baroda, punjab national bank and others will become invalid from january 1. Cts or imagebased clearing system ics is an initiative of the reserve bank of india rbi for faster clearing of cheques. Noncts cheques to become invalid from january 1 goodreturns. The electronic version of the cheque is sent for clearance with all necessary details such as micr code, date and name of presenting bank. If you are still in possession of nonctc cheque books, then it is in your own interest to get those replaced with cts2010 standard cheque. Simple guide for customers to identify if their cheques are cts. How to apply for a cheque book in hdfc bank onlineoffline. Similarly, in september this year, punjab national bank pnb had asked its customers to replace their non cts compliant cheques as they wont be accepted for clearance in the banking system from january. If you are still in use of nonctc cheque books, then it is in your own. Pap cheque book, free 25 cheque leaves per year financial year additional. No longer will you be able to use non cts cheques and sbi customers will not be able to do so from december 12, while other bank customers will not be able to use non cts cheques from january 1. Important message cts 2010 regulation applicable to. Only cheque books issued after aug 2011 are cts 2010 compliant.
As per rbi guidelines, non cts 2010 standard cheques will be withdrawn from circulation by 31december20. Why do clearance of cheque in indian banks like hdfc or. Under cts, once you deposit the cheque in your branch, sbi will scan the cheque and send the digital image to rbi, which in turn will collect the money from icici. Hdfc bank is one of the best private banks, among others in terms of providing the best facilities to their account holders. Without sale deed on buyer name,hdfc is not issuing chq. It also supports customizing the banking services for consumers as per their convenient to. Cheque truncation system cts or imagebased clearing system ics, in india, is a project of the reserve bank of india rbi, commenced in 2010, for faster clearing of cheques.
Published on sep 3, 20 cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. If you are still in possession of nonctc cheque books, then it is in your own interest to get those replaced with cts 2010 standard cheque books latest by december 31. In case you have issued non cts 2010 standard post dated cheques pdcs. This code helps in making successful electronic transfer of funds from one bank account to another. So if have obtained your cheque book after august 2011 then you must have received the new format cheques but if you have old format cheques in your cheque book then your cheques may not be valid after december 31, 2012. An instrument may not be honoured owing to a single reason or due to multiple reasons. As per an old rbi rule, noncts cheques will be invalid after january 1st, 2019. So it is necessary for all to understand how your new cheque format looks like. Get your non cts cheque book replaced immediately, it said. Private bankers such as icici bank and hdfc bank had started issuing cts 2010 compliant cheque books since last year as also public bankers such as the state bank of india, allahabad bank and united bank of india. How to order cheque books through hdfc bank internet banking.
Sbi is arranging to send these new series of cheque books to its customers at their last recorded address. Further, in respect of the existing investors under this facility, no new cheques will be issued w. How to apply for hdfc cts cheque book online from mobile. Savings bank account hdfc bank offers comprehensive range of savings accounts from regular to premium to suit your personal banking needs. There are various ways in which you can request hdfc bank cheque book onlineoffline.
From april 20, all banks have to ensure the withdrawal of non cts 2010 standard cheques. Hdfc bank awards consistently awarded among indias best. Hdfc bank ifsc code is an 11digit alphanumeric code assigned to each hdfc branch by the rbi reserve bank of india. Cts is the abbreviated form of cheque truncation system. If you received your cheque book before august 2011, you are requested to order a new one.
Hdfc bank ifsc code, micr code, search bank details by. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque. Just check, whether your existing cheque book is ctscompliant or you need to get a new ctscomplaint cheque book issued before 31st december 2012. In an official notice on its website, hdfc bank says separate sessions for clearing of non cts cheque will be discontinued from december 31. If you have ordered your cheque books recently, say, a month ago, you may already have the new cheque leaves with you. How long does it take to clear a cheque of icici bank to. I hope you are clear about cheque truncation system cts and how your cheques will become invalid from jan 1,20. Visibly, there will only be the following difference. Cts cheque clearance has indian banking moved ahead or behind. You can apply for your hdfc bank cheque book through netbanking, phonebanking or by filing an application at your branch. You must obtain a cts 2010 compliant cheque book on or before 31st march 20. Noncts cheques may face further clearance delay from may. Non cts cheques used by customers of all banks including state bank of india sbi, hdfc bank, icici bank, bank of baroda, punjab national.
Sbi, hdfc, pnb, icici, bob, other bank customers these to become invalid. It is now mandatory for banks to strictly issue standardised and enhanced new format of cheques called cts 2010. Cts has been implemented in new delhi, chennai and mumbai with effect from february 1, 2008, september 24, 2011 and april 27, 20 respectively. Some of the unique features of hdfc ifsc code are listed below helps to. Cheque truncation system new benchmark for cheques in banks. Cheques drawn on metro nonmetro cities where hdfc bank has a branch, credit will be given on receipt of clear funds. You can also define custom cheque formats to meet your needs. Apply for a cheque book you can apply for your hdfc bank cheque book through netbanking, phonebanking or by filing an application at your branch. Request you to make a note that noncts compliant cheques would. Has cts cheque clearance made indian banking moved ahead or behind. Please note, from 1st may 2014 to 31st october 2014, non cts cheques clearance will be limited to twice a week mondays and fridays. Cts cheque clearance has indian banking moved ahead or.
Cts 2010 compliant cheque will have the printer details along with the text cts 2010 printed on the extreme left hand of the cheque leaf. Watch the demo video to know why the new cts system speeds up. Cheque truncation system cts, an online imagebased clearing system for faster clearing of cheques in india. Please sign above is mentioned on the cheque leaf on right had side bottom. The reserve bank of india rbi in its statement on developmental and regulatory policies issued today has informed that the cheque truncation system cts, which is currently operational at the major clearing houses of the country will be made operational pan india by september 2020. If you have availed a home loan and or auto loan and issued postdated cheques instead of opting for direct debit, then you will be required to replace such. Non cts compliant cheques shall not be processed for clearing with effect from january 1, 2019, pnb said in a notification. Erp 9 provides users with the option of preconfigured cheque printing. Cheques drawn on speed clearing branches at non cts locations. You may also open an ac in the same branch of hdfc bank and obtain cts cheque book. Best bank in cheque truncation system cts best bank in national automated clearing house nach best bank in national financial switch nfs runner up in rupay cards asiamoney india banking awards 2017. December 31st is the last day of using non cts cheques for account holders of all banks including sbi state bank of india, hdfc. If your cheques are not cts 2010 complaint, there can realisation delays, as they will be cleared at less frequent intervals.
Basic savings bank deposit account for farmers at hdfc bank. Hdfc bank offers you to opt for cheque book with 25 cheque leaves by online method. Bank customers rbi new guidelines 2019 non cts cheques stop. Hdfc, punjab national bank, icici, bank of baroda and others. If you received your cheque book before august 2011, you are requested to order a. Everything you need to know about cts 2010 cheques. If you deposit it in a cts branch cheque truncation system which accounts for 95% of the branches today depending on when the cheque was deposited you could get the funds on the next working day late afternoon evening to the following day. Cts 2010 standard cheques will be cleared on all working days.
Considering the changes suggested by rbi, banks have already started issuing new format cheques from august 2011. Indias largest lender the state bank of india sbi will implement the cheque truncation system cts 2010, the new standard of cheques as mandated by the reserve bank of india. Cts or cheque truncation system is a process of clearing cheques through imagebased verification. After migration of the entire cheque volume from micr system to cts, the traditional micrbased cheque processing has. Sbi customers can deposit their noncts cheque in their respective branch and get free new cts2010 standard chequebook. Request for new cheque book to make your cheques valid. How to use the cheque printing configuration option in tally. Hdfc mututal fund has notified that the anytime cheques facility offered under its schemes shall stand withdrawn with effect from february 02, 2009. My cheque book is not cts 2010 compliant, what to do. Cts is an online imagebased cheque clearing system where cheque images and magnetic ink character recognition micr data are captured at the collecting bank branch and transmitted electronically. Everything you need to know about cts 2010 cheques banking. Once you have placed your request, you will get your cheque book delivered to your doorstep. Banks provide a booklet of cheques to serve this purpose. Cheque truncation system cts, an online imagebased clearing system for faster clearing of.
Hdfc mf withdraws anytime cheques facility under its debt. Indias largest public lender state bank of india sbi has told its customers that they will no longer be able to use non cts cheques from december 12. All chequebooks issued by the bank after aug 2011 are cts 2010 compliant. How to apply for hdfc new cheque book request for hdfc. In case if your cheque book does not reflect the aforementioned details you must obtain a new cts complied cheque book at the earliest, and surrender the noncompliant one to the bank. Is this a planned strategy to make use of non paper based transaction by banks. How to apply for hdfc new cheque book request for hdfc cts. February 02, 2009, and cheques already issued can be used for redemptions only upto. A cheque is used to withdraw money from a bank account for making various payments. If your cheque book is issued prior to august 2011, you are requested to indent for a new cheque book to avoid any inconvenience. Everything you need to know about cts 2010 cheques banking basics hdfc bank.
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