Cts cheques
sridhar pasumarthy
(Querist) 27 November 2012
This query is : Resolved
Respected Experts,
According to recent R.B.I. guidelines, only CST Cheques will be accepted from 1st January, 2013 and Non-CST Cheques will not be accepted by banks.
My query is :-
1. What is the difference between CST Cheque and Non-CST Cheque? How can we detect them?
2. Will the said RBI order will be coming into force or not?
Pls clarify. Thanks in advance
ajay sethi
(Expert) 27 November 2012
cheque truncation involves the stoppage of the physical movement of the
cheque and the replacement of physical instrument by the image/s of the instrument and
the corresponding data contained in MICR line
Images accompanied by the MICR line data, duly encrypted & digitally signed, will travel
over a dedicated network connecting all the CHIs with the Clearing House.
you have to replace your cheque books at the earliest . old cheques wont be accepted for clearing
