Cheques will soon come with more security features such as water marks and hidden logo. This was decided when Reserve Bank of India (RBI) asked banks to adopt extra steps to avert forgeries and frauds.
Over and above the extra security features, the cheques that will be issued by commercial banks as well as rural banks will have a standard size said an RBI circular that was circulated to the chiefs of all the banks.
It further added that it has been determined to recommend specific standard towards obtaining consistency of cheques issued by banks throughout the country.
The new characteristics would involve using quality paper, water mark and printing banks’ logos in hidden ink, said RBI. It further added that the consistency of security characteristics is believed to work as a deterrent against cheque frauds.
The apex bank said “Cheque Truncation System-2010 Standard” will be initiated after determining the willingness of the banks to adopt it.
The planned format is based on the suggestions of the Working Group established by the RBI to check consistency of cheques and improvement of security characteristics.
The set of least security characteristics, which will comprise of regular size, unencumbered background, use of ultra violet images etc, would provide consistency to all cheque forms issued by banks throughout the country.