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All You Need To Know About New Cheque Books

The new CTS (Cheque Truncation System) complaint cheque book has many special features which have been added by the RBI recently. These changes were introduced by the RBI for standardizing the payment system and making it more secure. All the cheque books issued by assorted banks of India will become void after 31st March, 2013. So, it would be better if you order for the new CTS-2010 Standard cheque book as soon as possible.

The new CTS compliant cheque leaf will have many new features which include-

1) A pantograph is etched with a hidden word “VOID” right below the spot where your account number is printed. Getting a Xerox of the cheque will make the word easily visible.

2) On the left side of the cheque leaf the words “CTS-2010” will be printed along with the cheque printer details.

3) On the bottom right corner of the cheque leaf the words “please sign above this line” will be printed and you will need to sign at the indicated space with a dark pen so that that your signatures can be scanned vividly.

4) You won’t be allowed to make any changes-either through cutting or text altering- once you have filled the entries in the cheque. In case of a mistake you will need to write a new cheque.

5) The backs of the cheques shall be kept blank so that the quality of images are good when the cheques are scanned.

6) The watermark as words “CTS-INDIA” will be printed on all the cheques. This watermark will become visible when a cheque is held against a source of light.

The new cheque books will certainly make payments more secure and there will be fewer cases of frauds and scams. Plus, the CTS system will ensure faster credits in the bank accounts.

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