The notification given below is relevant only to existing customers of CHHATTIS GARH FIN-CORP LENDING PRIVATE LIMITED (CGFL) who are currently repaying their Loans with us.
We wish to draw your attention to the Reserve Bank of India's (RBI) circular # RBI/2012-13/190 - DPSS.CO.CHD.No. 399 / 04.07.05 / 2012-13 dated 3rd September 2012 issued for Standardisation and Enhancement of Security Features in Cheque Forms-Migrating to CTS 2010 standards (continuation of circular DPSS.CO.CHD.No./ 1112 / 04.07.05 / 2011-12 dated 27th December, 2011).
- THE SALIENT FEATURES OF THE CIRCULAR AND INSTRUCTIONS THEREIN AS ISSUED UNDER SECTION 18 OF THE PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 ARE AS FOLLOWS
Banks must issue only Multi-city /Payable At Par CTS-2010 standard cheques not later than 30th September 2012 to their customer
Banks must arrange to withdraw the Non-CTS-2010 standard cheques in circulation before 31st March 2013 by creating awareness through various communication like SMS alerts, letters, display boards in branches/ ATMs, messages in internet banking, notification on website, etc.
Banks holding post-dated cheques (on behalf of themselves or on behalf of NBFCs) may arrange to ensure the replacement of Non-CTS-2010 standard cheques with CTS- 2010 standard cheques by 31st March 2013