There are four types of outward clearing viz. normal clearing, high value clearing, inter bank clearing and National/Outstation clearing. As we are sub-members of SCB all the normal, high value and outstation cheques are being routed through SCB, however the inter-bank transactions can only be routed through RTGS, RBI Mumbai.

  • Normal Clearing: The cheques received from the customer’s payable at Delhi generally are presented in normal clearing and the credit to the accounts is released on realization.
  • High Value Clearing: The cheques drawn on the banks covered in high value area (within 5 kilometers of Connaught place or those banks who have their centralized clearing system in Delhi) and of more than Rs.1,00,000/- are presented in high value, which are credited to the customer account on the same day. 
  • National Clearing / Outstation cheque clearing:  Those cheques that are drawn on other banks and payable at major cities of the country are called as National Clearing Cheques. Whereas the cheques payable at remote areas of the country as known as Outstation cheques.

THE GENERAL RULES FOR LOCAL / NATIONAL/ OUTSTATION INSTRUMENTS AT CTCB

    1. Immediate Credit for Local / Outstation Instruments- CTCB, New Delhi Branch being sub-clearing member of SCB presently do not provide such facility to the customers.
    2. Time Frame for collection of Local / Outstation Instruments is as below
 DescriptionTotal days for realization of cheque (are available to the customer)
LOCAL CHEQUESCheques sent for NORMAL clearing2 working days
LOCAL CHEQUESCheques sent for HIGH VALUE clearing Fitch (twn)1 working day
NATIONAL CLEARING CHQSNational Clearing cheques drawn on any SCB Location (where the branches of SCB are present)6 working days
NATIONAL CLEARING CHQSCheques drawn on NON SCB Location (Location in List)8 working days
NATIONAL CLEARING CHQSCheques drawn on NON SCB Location (Not in LOT List)22 working days
OUTSTATION CHEQUES Cheques sent for collection directly to the collecting bank30 days
    1. Interest payment for delayed collection of cheques: CTCB, New Delhi Branch being single branch in India doesn’t provide such facility to the customer’s. 
    1. Credit in less than above stipulated number of days by SCB: If the credit of any National clearing cheque is given to us in less than above stipulated number of days by SCB; then CTCB, New Delhi Branch may credit the funds to the customers account at the third working day of getting the credit from SCB.

CHEQUE COLLECTION POLICY

Name of the BankCHINATRUST COMMERCIAL BANK
Category of the bankSCHEDULED COMMERCIAL BANK
Whether the policy has been revised in the light of DPSS.CO.No.1056/03.05.06/2006-07 dated February 9,2007YES
Link to cheque collection policy on homepage of websiteYES
LOCAL CHEQUE COLLECTION POLICY:
1. Cut off time for receipt of cheques for the next clearing date at the branches/Deposit Boxes2.30 P.M.
(12.00 afternoon on Saturdays)
2. Day of credit to customers account after the day of receipt (e.g. 3rd day)3rd Working day
OUT STATION CHEQUES:
No. of days required after the receipt of instrument at branch for crediting the customer’s account.
(i) Cheques payable at Metros.6 Working Days
(ii) Cheques payable at State Capitals or “A” class cities where the bank has branch presence.Where intercity clearing is available managed by RBI.22 Working Days
(iii) Other Centers:
     1.Where bank has branch.
     2.Where bank has no branch.		30 Working Days
Compensation for delays if the instrument is not realized within stipulated days.
Procedure for notifying customer of dishonored cheques. 1.Via telephone call
2.Via courier
Procedure for notifying customer of lost cheques and remedial action to be taken by the bank and customer.By telephone
IMMEDIATE CREDIT OF CHEQUES:
Monetary LimitN. A.
Percentage or amount of Commission charged for the facilityN. A.
Other ConditionsN. A.