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Implementation of Cheque Truncation System (CTS)

Admin October 27, 2014

Implementation of Cheque Truncation System (CTS)

No.1 (1)/2012/CTS/TA/Vol.II/467-530
Ministry of Finance
Department of Expenditure
Controller General of Accounts
Lok Nayak Bhawan, Khan Market
New Delhi-110511

Dated: – 22.10.2014

OFFICE MEMORANDUM

Subject: Implementation of Cheque Truncation System (CTS): Dispensation of the requirement of forwarding of government cheques in physical form to Government — Change in the Memorandum of Instructions for reporting of Government transactions.

A reference is invited to this office OM No. 1 (1)/2012/CTSTTAN01.11/398-461 dated 30.09.2014(copy enclosed) regarding revised procedure of CTS-2010 Standard inter alia dispensation of “Paper to Follow’ (P2F) system for Government Cheques.

2. The RBI vide their letter No. DGBA.GAD.No.H-1465/42.01.035/2014-15 dated30.09.2014(copy enclosed) have now advised that the date of implementation of the revised procedure in respect of government cheques has been extended by three months to January 1, 2015. RBI has issued revised instructions to all agency banks vide their circular No. DGBA.GAD.No.H-1463/42.01.035/2014-15 dated 30.09.2014(copy enclosed).

3. All the Ministries/Departments of Central Government and UTs are advised to be guided by the aforesaid circular of RBI and also co-ordinate with their banks in the successful implementation of full fledged CTS 2010.

Encl: – As above.

sd/-

(Chandan Mishra Dwivedi)

Dy. Controller General of Accounts

Source: http://cga.nic.in/

Read more Click here

Filed Under: RBI

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