Wednesday 12 December 2012

Payments by cheques to be more secure effective from the New Year:

It’s a good news for the customers of different banks that their transactions through cheques shall now be more secure and feasible in terms of the new guide lines issued by the Reserve Bank of India. This arrangement is likely to be in practice with effect from 1st January’2013. To facilitate transaction in more safe a  manner, the new cheque book series will have to be used replacing the old one. Bankers have already started contacting their customer to apprise them of the new change. The new cheque books are to be supplied by the respective bankers free of cost to their customers on their home address. The customers who do not receive such cheque books, may have to collect the same from their bank concerned without any extra payment. These new cheque books are being issued in terms of Cheque Truncation System which ensures more of safety and security. The old cheques will not be accepted after 31st December’2012 and they will have to be readdressed. This system under the new scheme is also supposed to expedite payments presently done through clearing as the relative transaction shall be put through the same day. The collection of cheques through clearing system presently takes around a week’s time. As it looks now, the transaction through cheques is certainly likely to be feasibly convenient to the customers.

5 comments:

dns1 said...

good step by RBI and useful information by blogger.Thanks

dns1 said...

very good step by RBI and highlighting this by blogger.thanks

myso said...

Good news for the customers.

garv said...

WELCOME NEWS

vpa said...

Now the date of 31st December 2012 and this new system is going to be applied with effect from 1st April 2013.This information is published in the Jagran News Paper on yesterday or day before yesterday.

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