A number of banks have already been issuing CTS complaint chequebooks for almost a year now. So all those customers who have not got a new chequebook for more than a year, need to switch over.
Punjab National Bank- all chequebooks issued after April 2011 are CTS compliant.
Allahabad Bank- chequebooks issued by the bank from September 2011 onwards are all CTS compliant.
Bank of Baroda-chequebooks issued in the past 1 year are all CTS compliant.
To minimize clearance time by avoiding physical movement of cheques Avoid clearing related frauds Eliminate chances of cheque getting lost during transit from the clearing bank to drawn bank.