Cts cheques

sridhar pasumarthy (Querist) 27 November 2012 This query is : Resolved
Respected Experts,

According to recent R.B.I. guidelines, only CST Cheques will be accepted from 1st January, 2013 and Non-CST Cheques will not be accepted by banks.

My query is :-

1. What is the difference between CST Cheque and Non-CST Cheque? How can we detect them?

2. Will the said RBI order will be coming into force or not?

Pls clarify. Thanks in advance

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ajay sethi (Expert) 27 November 2012
cheque truncation involves the stoppage of the physical movement of the
cheque and the replacement of physical instrument by the image/s of the instrument and
the corresponding data contained in MICR line

Images accompanied by the MICR line data, duly encrypted & digitally signed, will travel
over a dedicated network connecting all the CHIs with the Clearing House.

you have to replace your cheque books at the earliest . old cheques wont be accepted for clearing