State Bank of India CTS Cheque Format

Can you tell me in detail about the arrangements for collection of Domestic Cheques (CTS-2010 Standard Cheques and Non-CTS -2010 Standard Cheques) under State Bank of India?

[pawan]

Cheques drawn on State Bank of Indias own branches, at local or at outstation centres, irrespective of amount and market/business segment, except Govt. Cheques, Bankers Cheques, RBI (Reserve Bank of India) cheques, received across the counter or through Drop-Box are not required to be presented in clearing or purchased as DD/ sent out on collection as SC.

These instruments are disposed of at their end only, subject to ceiling for non-home payment as decided by the Bank & advised to branches from time to time.

The instruments are paid by the receiving branches at their end after verifying the genuineness of the instruments and observing all necessary precautions for payment of instruments, who will afford credit directly to the payees account.

The facility of immediate credit will be provided by the branch to the satisfactorily conducted accounts (defined hereinafter in the Policy) of their customers in respect of instruments drawn on any of branches.

The facility of immediate credit would however not be applicable to cheques collected under speed clearing arrangements.

Branches will afford immediate credit of outstation cheques of other banks too up to and inclusive of Rs.30,000/- tendered for collection by their customers


Arrangements for collection of Domestic Cheques (CTS-2010 and Non-CTS -2010 Standard Cheques) SBI