RBI to Banks: Alert customers in high value cheque payments
November 7th, 2014 by CHEQUEMAN
To clamp down on cheque-related fraud cases, the Reserve Bank of India (RBI) on Wednesday asked banks to alert account holders by a phone call and contact the base branch in case of non-home cheques before clearing high value payments. The RBI also asked banks to send an SMS alert to payer/drawer when cheques are […]