The Reserve Bank of India- RBI today asked non-banking financial companies -NBFCs to replace post-dated cheques issued to them by customers with new standardised cheques with improved security features. The RBI in its notification has said that NBFCs which accept post-dated cheques should migrate to the 'CTS 2010' standard by the end of this year. CTS 2010' standard is a set of benchmarks towards achieving standardisation of cheques issued by banks across the country.

RBI further asked NBFCs to confirm to the regional office of the bank that a plan has been put in place for implementing the CTS 2010 standard within the prescribed timeline.