The Reserve Bank of India (RBI) has prescribed new guidelines on standardization of security features of cheques, which are aimed at enhancing customer safety and facilitating easier processing.
Please note that as per RBI guidelines, non CTS-2010 cheques should be withdrawn before December 31, 2012.:
• Identify whether your existing Citibank Account cheque book is CTS-2010 compliant
• Request for a new cheque book, if required
please note that RBI has advised all banks holding post-dated EMI cheques to arrange for replacement of non-CTS-2010 Standard cheques with CTS-2010 Standard cheques. If you have availed a loan and have given post dated cheques to your lending bank, do get in touch with them for advice on the next steps.
Order for new cheque book from your Banker and replace your EMI cheques which may get bounced after 1st of Jan 2013.
