Why you need to apply for a new cheque book

Considered to be a major milestone in the history of Indian banking, Cheque Truncation System (CTS) aims to make cheque clearance more efficient and reduce the clearance time of cheques to one day, thereby trimming down the floating time considerably. India processes as many as 1.2 billions cheques annually and therefore, the implementation of this system would drastically cut down the waiting period involved. The system will be implemented nationwide from January 1, 2013.

CTS cheque sample

How does it work?

An online image-based cheque clearing system, the collecting bank branch would deploy scanned images along with the magnetic ink character (MICR) of the cheque which will be sent out electronically using their Capture System, removing the need for physical/manual transfer of cheques. The captured images and the data is then signed and encrypted and sent to the Clearing House or the central processing location and thereafter forwarded to the drawee or paying bank.

This helps speed up the cheque collection process that eventually helps provide better and faster customer service.

Key Features of Cheque Truncation System

• User friendly graphic user interface
• Automated coding and endorsing of cheques
• Encryption of data file before transmission to the clearing house or the service branch
• Employs a unique transaction follower process to confirm the status of cheque
• Improved and efficient settlement and prevention of fraud
• Equipped with enhanced archival procedure that stores images and data facilitating report generation along with future enquiry
• Alerts RMs in case of return of cheque due to insufficient funds

New cheque leaf

Impact of CTS on Customers

Handling of EMIs with the Introduction of CTS

In cases where customers have issues post-dated cheques (PDC) for payment of monthly installments towards an ongoing loan, they would need to issue fresh cheques to the bank or service provider as per the new directive on CTS by the RBI. The replacement of these cheques needs to be done latest by December 31, 2012 and is applicable on all banks and NBFCs.

Encashment of Old Cheques

If you have an old cheque with you, you should get it encashed by December 31, 2012. The RBI mandate states that payments for such cheques will be honoured only till then.

Banks need to issue the new types of CTS-compliant cheque books with the prescribed features to all their customers latest by December 31, 2012. Customers may need to surrender their old cheque books or cancel them and show proof of cancellation. No replacement fee will be charged by the bank for issuing new cheque books

Apart from these aspects, the system does not, in any way, affect the way things function for a customer. They would continue using cheques as they do currently; however, cheques that have been altered or modified will not be permissible under the new system. The other precautions that need to be taken while issuing or writing a cheque are:

• Ensure that all details are clear and readable, using black or blue ink
• Write the name of the payee, amount and the date and sign the cheque correctly.
• In case you use seals on the cheque, ensure that they are imprinted in a manner that they do not mask or hide the other important fields of the cheque.

Benefits of CTS for Customers

There are many benefits of the cheque truncation system from the perspective of a customer. 

• Clearance cycle gets shortened - As this system is being implemented, the physical or manual movement of cheques for clearance has ceased. With cheques being transmitted electronically, the settlement process becomes quicker, facilitating reduction in the clearance cycle.
• The fear of loss of cheques during transfer from the collecting bank to the drawee or payee bank is eliminated.
• Limitations of the current clearance system with respect to jurisdiction and geography are eradicated. This enables integration and consolidation of several clearing locations across various banks offering different service levels into one standard clearance system applicable throughout the country.
• CTS helps reduce the scope of fraud significantly. Moreover, the electronic transmission is quick and allows early detection of fraud or any alteration with respect to the payee, amount or the issuer of the cheque. CTS prescribe minimum security features under ‘CTS-2010 standards’ along with superior verification process that further facilitates in the reduction of frauds.
• The operational efficiency of both the bank as well as the customer is enhanced with the introduction of this system.

with thanks : YAHOO FINANCE : LINK

Worth of Sikh Identity :Awareness Drive at North Carolina airports.

UNITED SIKHS Projects Lead Pushpinder Singh presenting to TSA employees

UNITED SIKHS volunteers conducted TSA Awareness events at North Carolina airports. They met with Transportation Security Administration (TSA) in Charlotte Douglas Airport (North Carolina) to educate TSA staff about Sikh culture and  identity,so that Sikh articles of faith are correctly identified  and proper procedures can be  followed at the Airports.

The meeting took place in response to a recent spike in incidents of profiling of Sikhs at Charlotte Douglas Airport. It was coordinated by TSA’s diversity committee to provided an excellent platform to outline some of the common problems and challenges faced by the Sikh community because of their unique identity. TSA employees also had the opportunity to ask questions and interact with the Sikh community.

The recent terrorist threats against the United States have resulted in increased levels of security and heightened passenger screening at airports. Sikhs have reported being subjected to increased screening measures due to a lack of understanding about Sikh articles of faith. 

Mr. David Wray, Federal Security Director and head of TSA Charlotte began the meeting by saying, “Knowledge about other cultures dispels fears about them”. Ms.Sandra Holding, Assistant Federal Security Director of Law Enforcement noted, “Sometimes seeing, holding and feeling articles of faith makes a big difference and enhances media based training. The knowledge stays in the mind longer”.

Ms. Ana Bosnjak wearing a turban. Mr. David Wray and other TSA employees

It was an immensely valuable educational experience for TSA employees and UNITED SIKHS members to have such a productive dialogue about the Sikh articles of faith. TSA employees got first-hand experience holding and feeling a Kirpan.The TSA employees asked several questions regarding the Turban and Sikh Symobls.

"Personal interaction satisfies curiosity”, said Damanvir Kaur, a volunteer.TSA’s training department  offered to continue to work with the community to supplement media training with personal interactions and Q&A sessions. 

Damanvir Kaur talking to TSA employees about Kirpan and Turban

awanjit Singh and Pushpinder Singh with Mr. David Wray, Federal Security Director

With thanks : UNITED SIKHS

"Conducting public duties while practicing Sikhism and wearing turban is a great honor": Jatinderpal Singh Bhullar

Jatinderpal Singh Bhullar (from West Bromwich and is in F Company Scots Guards ) was pictured taking part in the Changing of the Guard sporting the turban.25 year Old Sikh has made history by becoming the first soldier to guard the Queen in Buckingham Palace without wearing the traditional bearskin. 

Jatinderpal Singh said ''Sikhs have served Britain in World War I and II with their turbans intact, confirming their commitment towards righteousness and serving others and living their identity till their last breath.I applaud the British Army for being appreciative and respectful towards diversity. This is The best thing in my life”. Conducting public duties while practicing Sikhism and wearing my turban is a great honor for me .I am very proud to be a member of the Household Division and to be the first Sikh Guardsman to mount guard in a turban will be the best thing in my life, especially as a member of the Scots Guards .The regiment is full of history, as is my religion.”

 Jatenderpal Singhshaking hands with Major Rick Fletcher (Slough ACIO) after taking the oath of allegiance.

Link : with thanks : Sikh Channel

What a difference !

Now, Akali leader's kin beats up traffic cop in Gurdaspur

Sunday, December, 09 2012 - 17:52

 

GURDASPUR/AMRITSAR: In another shameful incident denting further the image of Shiromani Akali Dal which is still reeling from criticism over Wednesday's murder of an Assistant Sub Inspector in Amritsar by its leader, a kin of party'sYouth Wing today bashed up a traffic policeman in Gurdaspur.

The accused has been identified as Inderpal Singh, Akali leader Paramjit Singh Laddi’s nephew. The incident took place in full public view following an argument between the head constable Gurnam Singh and the traffic cop. 

Laadi's nephew allegedly tore the uniform of the policeman on duty. The accused has been booked on the charges of obstructing a public servant from discharging his duty under sections 186 and 332 (for voluntarily causing injury to public servant to obstruct him from discharging his duty).

The incident came close on the heels of the high-headedness and blatant abuse of power when an ASI in Amritsar was shot dead by an Akali leader in broad day light and in full public view.

On December 5, ASI Ravinderpal Singh, who had protested against the eve-teasing of his daughter by the general secretary of Amritsar urban unit of SAD Ranjjit Singh Rana and his associates, was gunned down in broad day light. The incident led to a huge public outcry in the country, denting the image of the ruling party in the state which was accused of recruiting youth with shady credentials into the party and promoting him into the top official slot in the organisation for rendering 'services' to the party.


with thanks : Punjab Newsline : LINK

Now, Akali sarpanch kills man in Amritsar

Days after an Akali Dal general secretary allegedly killed a police officer in Amritsar city, a villager was kidnapped and hacked to death in Amritsar district, allegedly by a local leader of the party. Amarjit Singh, Akali supporter and sarpanch of Nangal village, the main accused in the crime, is on the run.

The local Congress MLA, Harpartap Singh Ajnala, said Amarjit is the general secretary of the block unit of the Shiromani Akali Dal (SAD).

 The SAD — which is already under pressure following the Amritsar policemen’s death — has denied that Amarjit holds a post in the party or is even a member.

On Saturday night, Amarjit, along with 10 others, attacked the farmhouse of one Gurpreet Singh Gopi in the outskirts of the village. He was dragged out of his bed and taken to Amarjit’s house, where the men set upon him with a spear, said a police officer.

Thereafter, the sarpanch summoned policemen from the Ajnala police station and told them that he had beaten up Gopi as he had scaled the boundary wall and trespassed into his house, Harpratap said.

The man was admitted to the civil hospital in Ajnala with multiple injuries and was later referred to a hospital in Amritsar. But on Monday morning, he died at a private nursing home in the city. Officers of the local police said it was a matter of personal enmity.

“A case has been registered against Amarjit and 10 others at the Ajnala police station. But all the men named in the FIR are absconding,” said PS Virk, senior superintendent of police, Amritsar (rural).

Condemning the incident, Harpartap, who is also the district Congress committee chief of Amritsar, said this was yet another instance of the power Akali goons wield. Pointing out how the police had failed to take Amarjit into custody on the spot, he demanded a detailed inquiry into the case.

with thanks : Hindustan Times : LINK

Book on Sikh shrines in Pak presented to PM

LUDHIANA: Leading businessman of the city Ranjodh Singh, president of Ramgarhia Educational Council and Punjab Lalit Kala Akademi, presented the first copy of his book 'Nankana Sahib and Sikh Shrines in Pakistan' to the Prime Minister during the latter's visit to Punjab Agricultural University (PAU).

Ranjodh said, "The valuable book comprises a vivid description of Gurdwara Sri Nankana Sahib, Gurdwara Sri Baal Lila Sahib and other Sikh shrines related to the life of Guru Nanak Dev. This book is written in three languages English, Hindi and Punjabi." "It is replete with illustrative pictures of the shrines. This book will serve as a strong link for the whole Sikh community, creating awareness among them about the rich Sikh religious heritage in Pakistan." 

with thanks : Times of India : LINK

Gurdwara Act: Cong pushes for change, BJP contests move

Gurdwara Act is crucial to hold the Delhi Sikh Gurdwara Management Committee elections, which the Supreme Court wants before December 31.

 

The Delhi government is pushing hard to pass the much-debated and amended Delhi Sikh Gurdwara Act in the Assembly winter session, beginning Tuesday. 

The legislation is important because it will set the norms for elections to the Delhi Sikh Gurdwara Management Committee (DSGMC). The Supreme Court had ordered elections to the DSGMC before December 31. 

Punjab Deputy Chief Minister Sukhbir Singh Badal had criticised the amendments to the Act, alleging that the Congress government in Delhi was “meddling” with religious affairs of the Sikhs and trying to foist its loyalists into the gurdwara committee. 

Chief Minister Sheila Dikshit refuted the allegations. “We have proposed changes to the Act to increase transparency and would like to hold elections to the DSGMC under the amended Act. The elections will be held before the deadline of December 31, but we might ask the Supreme Court to give us more time if required,” she said. 

She said the amendments would be tabled in the winter session of the Assembly. 

Senior Delhi government officials said Lieutenant-Governor Tejendra Khanna last week gave his consent to the amendments and sent the returned the file to the government. “We will now send it to the Union Home Ministry, which has to clear the amendments before they can be tabled in the Assembly,” an official said. 

The amendments seek to directly elect the DSGMC president. At present, members of the executive elect the committee chief. 

with thanks : INDIAN EXPRESS : LINK : for detailed news.

VIP movement in Delhi : Delhi Aajtak : B S Vohra

Come, share the joy of our children at Guru Harkrishan Public School

Come, share the joy of our children at Guru Harkrishan Public School, Hargobind Enclave. We have a very creative set of teachers who ensure that the atmosphere of the school generates a sense of happiness and joy in the process of learning.

 

With regards,

Mrs. Jasmeet Kaur

Guru Harkrishan Public School,
Hargobind Enclave, Delhi-92
Phone:- 011-43714444

http://ghpshargobind.org

Can you guess who is this person ?

Plz answer on our Facebook : http://www.facebook.com/SikhsIndia