NEWS & ADVICE : FIXED DEPOSITS
State Bank of India to issue new, CTS complaint cheque books by Dec 15
By Neelima Shankar
Nov 20, 2012
Print    Email    RSS   

State Bank of India had recently announced that it would implement cheque truncation system (CTS) soon. To initiate the implementation process, SBI has requested its customers to inform the bank about any changes in their mailing addresses. The country's largest lender, SBI, has planned to send the new, CTS complaint cheque books to its customers by December 15, 2012.

On the matter, the bank issued a notification which said that SBI is arranging to dispatch the new series of CTS complaint cheque books to its customers "at their last recorded address". In case of any change of address, customers have been asked to inform the concerned officials about it. It also added that in case some customers do not get the new cheque books by mid December (15 Dec), they should contact their bank branch immediately.

It should be noted that Cheque Truncation System (CTS) was put in practice by the monetary regulator, Reserve Bank of India (RBI), on an experimental basis at the New Delhi Bankers Clearing House. Later, it was adopted by Chennai too.

RBI had issued a statement announcing the adoption of the CTS 2010 series in December, 2010. In the beginning of this month, SBI had decided to discontinue the use of the existing cheques by the end of December this year.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Credit profile and its effect on loan...
Know all about non-bank fixed deposits
Manage your FD in a better way
Recurring Deposits or Systematic...
Regular fixed deposits in India: Great way...


What is the FD interest rate in India?
what is the bank interest rate for fixed deposit
as sr citizen i deposit 40lacs i want to know how...
Escorts in panchkula......9872814230???

NEWS THIS WEEK
EPFO to launch UAN facility by 16th October, 2014. Sep 22, 2014
Allahabad Bank bags award Sep 17, 2014
SBI revised rates for the term deposits of less than 1 crore Sep 16, 2014
HDFC to issue debit card PIN through SMS Sep 15, 2014
New branch of Corporation bank in Maharashtra Sep 12, 2014
News Archive