March 19, 2013 8:59 AM

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Accept & clear all residual non-CTS-2010 cheques till 31st July:RBI to banks

RBI has asked banks to accept and clear all residual non-CTS-2010 cheques till 31st July this year. In a notification issued from Mumbai on Monday, RBI says that banks should make efforts to withdraw non-CTS-2010 standard cheques in circulation before this extended timeline by creating awareness among customers through SMS alerts, letters, display boards in branches/ATMs, notification on the web-site etc. RBI has also said that all cheques issued by banks including DDs or POs shall necessarily conform to CTS-2010 standard with immediate effect. Meanwhile, in order to avoid any inconveniences to customers, RBI has authorized 29 agency banks to accept payments of Income Tax dues. Some of the agency banks include Bank of Maharashtra, Bank of India, Canara Bank, State Bank of India, Central Bank of India, IDBI Bank, HDFC Bank, Axis Bank and ICICI Bank.

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