Why is there a need to change the cheque design under CTCS?
The cheque size has been standardised to 3.5″ x 7″ to facilitate cheque truncation. A single cheque size would assist the commercial banks with automation of the clearing process, besides maintaining an acceptable file size for electronic transmission of the cheque images and data. Boxes for the date and amount (in figures) have been introduced to facilitate optical capture in the future. Besides, customers need not complete pay-in slips, when depositing the cheques. Security features have also been enhanced to combat fraud. • We currently have cheques, which are completed on computer printers using magnetic ink for the printing. Can we continue to use magnetic ink for the printing? You may continue to use magnetic ink for printing of cheques, provided it does not impinge on the clear band area or affect the scanning/imaging/processing of the cheques nor affect any material part i.e date, payee name, amount in words and numericals and signature on the cheque. • What measures are in pla
