Reserve Bank of India to do away with need to return paid government cheques to depts
December 16th, 2014 by CHEQUEMAN
Easing norms to enhance efficiency of cheque clearing system, the Reserve Bank will do away with the requirement of returning back paid government cheques to the concerned departments. Presently Cheque Truncation System (CTS) is used to clear cheques that facilitates presentation and payment of cheques without their physical movement. However, with regard to government cheques, […]