![]() Similarly, Ravinder Yadav, Manager, Bank Of India (BOI) said, " More than fifty account holders request it on a daily basis". "The new system is very genuine and brings a lot of ease to the users, though the prohibition of any alterations in the cheque will surely require some practice," said Vaishali Grover, an account holder at PNB. The format is standardized and the new features like the invisible logo of the bank and void pantograph help keep a check on fraudulent cheques". People are now approaching banks for getting cheque books according to the new format issued.Ĭomparing the old system of cheques with the new CTS, RK Gupta, Manager, Punjab National Bank said, "Now there is no obligation to send the cheques physically as the image of the cheque is captured by the system and sent electronically. ![]() According to a notice issued by the Reserve Bank Of India, the circulation of non-CTS cheques should be blocked by Maand replaced by Cheque Truncation System, CTS 2010 standard.
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