Stop accepting non cts cheques from your client as non-CTS cheques will delay clearance,approximately it will take three to four days to clear.You should ask your party to provide CTS cheques only.Again I want to remind you that from November onward non cts cheque will be presented only once in a week i.e on Monday only.
These steps are taken by RBI to make awareness of CTS cheque and remove non cts cheque from market.Although RBI had already instructed banks to ask the customer to surrender non cts cheque book and take new CTS cheque book.But most of the bank not take it seriously and also lack of customer awareness creates the current situation
From above it is very clear we have to move on to electronic clearing but still many rural and semi urban branches of many banks issuing non cts cheque book.
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