Smart and Easy Cheque Printing Software
Existing cheque clearing arrangement will continue till year end Good news for those having non CTS cheques left for clearing. RBI has declared that the existing cheque clearing system will continue till year end. Non-CTS-2010 cheques (Cheque Truncation System) will continue to be cleared even after the deadline of July 31, 2013. However,banks must continue to make […]
Cheques containing fractions of Re not be rejected: Reserve Bank of India If your bank has been refusing to accept cheques for amounts that include fraction of a rupee, it’s against the rules and the bank should be penalized. In an internal circular issued earlier, the Reserve Bank of India (RBI) had warned that banks which refuse […]
The government will soon make an amendment in the Negotiable Instruments (NI) Act for cheque bounce that will restrict banks from dragging a person to court. All such cases, after the changes come into effect, will have to be decided only through arbitration, conciliation or settlement by Lok Adalats. It is estimated that more than […]