Cash Replenishment at ATMs
Implementation of CTS
Cheque Truncation System (CTS) - Assures certain common minimum security features in cheques printed, issued and handled by banks and customers uniformly across the banking industry.
Accordingly, certain benchmarks towards achieving standardisation of cheques issued by banks across the country have been prescribed like – quality of paper, watermark, bank’s logo in invisible ink, void pantograph, etc., and standardisation of field placements on cheques. The benchmark prescriptions are collectively known as "CTS-2010 standard".
All banks providing cheque facility to their customers have been advised to issue only 'CTS-2010' standard cheques. Cheques not complying with CTS-2010 standards will be cleared at less frequent intervals i.e. weekly once from November 1, 2014 onwards.
Cheque collection policies
Local cheques are payable within the jurisdiction of the clearing house and will be presented through the clearing system prevailing at the centre. Credit arising out of local cheques shall be given to the customer’s account as indicated in the Cheque Collection Policy (CCP) of the concerned collecting bank. Notwithstanding to the CCP, ideally, in respect of local clearing, banks shall permit usage of the shadow credit afforded to the customers’ accounts immediately after closure of the relative return clearing on the next working day or maximum within an hour of commencement of business on the third working day from the day of presentation in clearing, subject to usual safeguards.
Maximum timeframe for collection of cheques drawn on state capitals/major cities/other locations are 7/10/14 days respectively.
If cheques/instruments lost in transit/in clearing process
If cheques are lost in transit or in the clearing process or at the paying bank's branch under physical instrument delivery clearing, the bank should immediately bring the same to the notice of the presenting customer (beneficiary)’s notice so that the customer can inform the drawer to record stop payment and can also take care that other cheques issued anticipating the credit arising out of the lost cheque are not dishonoured due to non-credit of the amount of the lost cheques / instruments.
In CTS, if the instrument is lost after lodging with the collecting bank but before truncating the same for sending through image based clearing, the presenting bank should follow the procedure indicated above.
The customer is entitled to be reimbursed by banks for related expenses for obtaining duplicate instruments and also interest for reasonable delays in obtaining the same.
Cash and its custody
Checking of Cash Balance
Before taking notes and coins into "Joint Custody", the supervising official will :
At the close of working day, verify that the "Joint Custody balance" corresponds exactly with the entries in the Cash Balance Book.
Before the safe is closed, the supervising official, Head Cashier and Cashier should check the bundles and verify the same with the Reserve Cash Register.
Shortage or Excess in Cash
Remittance of Cash
When remittances of currency notes are sent from one office to another, following instructions must be strictly complied with :
Prerequisites for sending cheques for clearing
Follow all the specified instructions for :