It might happen that you cheque can become bounced or it can be rejected from Jan 01, 2013.. Its been a new system named as CTS 2010 by RBI[Reserve Bank of India] which's known as Cheque Truncation System. RBI issued a circulat to all the banks stating that all banks should accept cheques that are adopted by CTS guidelines.
Source :- for more details, please see Cheque Truncation System
- All CTS cheques will be having a watermark with words "CTS India" that can be seen against a light
- A bank logo will be there with ultra violet ink, which can be seen only with UV Scanners
- If there's a mistake in the cheque, then as per the guidelines it will be invalid
Source :- for more details, please see Cheque Truncation System
