The RBI (Reserve Bank of India) had asked NBFCs (non-banking financial companies) to replace post - dated cheques issued to them by customers with new standardised cheques with improved security features.
For the purpose of standardisation & enhanced security features,the banks have been told by the RBI to migrate to the CTS 2010 standard by 31 December 2014.
This standard is a set of benchmarks towards achieving standardisation of cheques issued by banks pan India. It includes mandatory minimum security features on cheque forms, such as the quality of paper, watermark, the banks logo in invisible ink, void pantograph & standardisation of field placements on cheques.
