RBI's New Circular For Non-CTS Cheques June 2018

A new circular, dated 26 June 2018, has been issued by Reserve Bank Of India(RBI) to all the banks regarding processing of non-CTS cheques. Currently, non-CTS cheques are processed once in a week i.e. on every Monday. As banks are advised to comply with CTS-2010 standard and security printers also do not print non-CTS cheques, the number of non-CTS cheques are declining continuously. With this declining number of non-CTS cheques, RBI also dropped the frequency of separate session for non-CTS cheques.

What New RBI Circular Says

1. Frequency of separate session for clearing of non-CTS cheques will be reduced to once a fortnight w.e.f 1^st July 2018 (Every alternate Wednesday, beginning July 4^th).
2. And again with effect from 1^st September  2018 , this session frequency will be further reduced to once in a month (2^nd Wednesday of the month, beginning September 12^th) till 31^st December.
3. After 31^st December 2018, the separate session for non-CTS cheques will be discontinued, however, these cheques can be presented in Express Cheque Clearing System(ECCS) centres.