I. Cheque will be accepted during business hours of the Bank’s branch. The timings for the acceptance of cheques will be as follows: Reserve Bank of India has discontinued Non-CTS clearing with effect from 1st January 2019.
Reserve Bank of India will continue to issue directions to include clearing of additional cities to the three grid locations. The clearing of various cities has been linked to the CTS grid at these three locations.
Withdrawal of amounts so credited, will be permitted only after the cheque-return process is completed.īank branches, situated at centers where no clearing house exists, will present local cheques on branches of the drawee banks across the counter and it will be the Bank’s endeavor to credit the proceeds at the earliest.ĬTS grids has been implemented at three locations Delhi, Chennai and Mumbai. This will enable the branches to reply to the customers query for late clearance of their cheques. NPCI circular, indicating the name of the banks taking concession for returning their unpaid cheques, be forwarded to all the branches and also to COCPCs. In case of Banks, who have obtained extension for their Inward cheque process, then the clearance of the cheques of such Banks, will be granted on next working day, after the cheque-return process is completed for that day. The Bank will give credit to the customer’s account on the same day, on which the clearing settlement takes place. All CTS compliant cheques and other negotiable instruments payable under a grid system will be presented through the clearing system prevailing at the center.Ĭheques deposited at branch counters and in collection boxes within the branch premises before the specified cut-off time will be presented for clearing on the same day.Ĭheques deposited after the cut-off time and in collection boxes outside the branch premises including off-site ATM will be presented in the next clearing cycle.
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