Come 01 January, 2013 and your all existing bank cheques will become invalid. The reason being that the banking regulator, Reserve Bank of India (RBI) has implemented cheque truncation system (CTS) effective from 01 October and hence it has asked all the banks to replace the existing bank cheques, which have already been issued by them to their customers, to new standard cheques that comply the new system. The new generation private sector banks have already complied with the RBI norm. However, the same was not the case with the state-owned banks and hence the rush among them to inform their customers through notices which have been pasted at branches and ATM kiosks........
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