Changes are being made in the banking system these days. SBI is going to make another major change after the closure of four services from the country’s largest bank State Bank of India (SBI) recently. However, the rule is to be amended by SBI on December 12, with the changes from HDFC Bank, ICICI Bank, Bank of Baroda and Punjab National Bank from January 1. The change from SBI’s side will affect the customers who use checks for transactions.
In fact, according to the RBI directive, the bank will not clear the non-CTS check next year i.e. 1 January 2019. About this, the deadline of December 12 has been fixed by SBI. That is, non-CTS checks will not be accepted from December 12 on behalf of the country’s largest bank. After December 12, only CTS checks will be cleared. In other banks, this rule will be applicable from 1st January.