2nd December 2012

Cheque Truncation System in Sivakasi

The Reserve Bank of India directed all banks to issue cheques with uniform features conforming to Cheque Truncation System (CTS) 2010 standard by end of November 2012. Some banks in Sivakasi, arrange to withdraw the non-CTS-2010 standard cheques in circulation before November 30, 2012 by creating awareness among customers through display boards in branches/ATMs and oral information in the bank premises. Bankers in Sivakasi advised their customer that, do not fold or mutilate the cheque as it can damage the data on the MICR line. Sometimes there is chance for dishonouring of cheque due to folding of cheques. Some banks ask their customers to get CTS Standard Cheque and non CTS cheques would not be accepted from 1st December 2012. Sivakasi SBI would not be act as clearing house, in Sivakasi. Clearing Timings changed from 10:00 a.m. to 11:00 a.m. to 10:00 a.m. to 04:00 p.m. and on Saturday clearing timings is until 12:00 p.m..