Check your current Cheque book – Is it valid (new CTS) ?
RBI has implemented the new Cheque Truncating system (CTS) and from 1st January 2013, only the new CTS complaint cheques will be honored.
Update: The timeline has been extended mnay times from 31-Mar-2013 to 31-Jul-2013 to 31-Dec-2013
Received the following SMS from bank,
"Dear Customer, please deposit CTS compliant cheques(i.e cheques with CTS India watermark) for your credit card repayments from 31 December, 2013 to avoid delayed clearance and late payment fees. Non CTS compliant cheques ( cheques not compliant to the cheque truncation system(CTS) 2010 standards) will be cleared thrice a week only, until 30 April, 2014."
So, the validity of Non CTS cheques is again extended, this time upto 30th April 2014. If you haven't switched to CTS cheques, you have 4 more months.
A. Why this ...