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
The recent interest rate hike
Fixed deposits in India: Benefits,...
FD: Opportunity for retirees to diversify...
Medical Insurance: Save tax along with health
Know all about non-bank fixed deposits


what is the bank interest rate for fixed deposit
as sr citizen i deposit 40lacs i want to know how...
Escorts in panchkula......9872814230???
I was deposit Rs,200000,00 by Mis self sbi saving...

NEWS THIS WEEK
Revision in SBBJ FCNR deposit rates Sep 3, 2014
New deposit scheme – SBH Vrudhi–275 by SBH bank Sep 2, 2014
New FCNR term deposit rates of Indian bank Sep 2, 2014
EPFO to maintain the rate at 8.75% Aug 29, 2014
New banking apps rolled out by Deutsche bank Aug 26, 2014
News Archive