March 22nd, 2013 by CHEQUEMAN
In order to decrease the use of cheques, RBI paper has requested the banks to charge their customers for depositing/withdrawing money using cheques. It has also suggested the Government agencies not to charge “convenience charge” for the electronic payment of utility bills.
Other suggestions were to limit the number of free cheques in a year to a very small number, high fee on new cheque books, and mandatory online payment of credit cards issuing post dated cheques.
March 19th, 2013 by CHEQUEMAN
If the customers have issued post dated cheques for the payment of monthly installment towards the ongoing loan then they would have to cancel those cheques and issue new CTS-2010 compliant cheques.
March 15th, 2013 by CHEQUEMAN
Following are the features of new ‘CTS – 2010 Compliant’ Cheques
- Branch address with IFSC code printed top of the cheque.
- Date in dd/mm/yyyy format with boxes.
- There is a new symbol of rupees inserted near the numerical amount column.
- “Please Sign Above” is written on the cheque at the bottom right side.
- Wave like design is embossed on the left hand side of cheque.
Features of New CTS – 2010 Compliant Cheques
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