CTS cheques of SBI associates valid till December 2017
State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT), besides Bharatiya Mahila Bank (BMB), merged with SBI with effect from 1 April 2017.As per the rule all the cheque books of these banks became invalid immediately, however bank has given to his customer to acquire new cheque book.The deadline for acquiring new cheque book is December 2017.From various source it has come to notice that after december 2017 cheque books of all associates banks and Bharatiya Mahila bank will become invalid.
What should banker do in this scenario ?
As far I know every Indian banks takes post dated cheques from his customer in order to recover EMI if customer fails to pay.Also cheque is used to file case against customer under NI act if cheque bounce due to fund insufficient reason.Now it is very important to ask their customer to deposit new cheques for their loan, otherwise recovery of loan became difficult.
From where customer can apply for new cheque book ?
Customer can apply for the new cheque books via internet and mobile banking, ATM or by visiting the home branch.
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