Important RBI Circular

Effective December 1, 2010 cheques with alteration/ correction will not be accepted for clearing in New Delhi (image based processing location) as mandated vide RBI circular Dated 22nd June, 2010.

No changes or corrections should be carried out on the cheques (other than for date validation purposes, if required) which are presented for Payment / Collection in locations under the image-based Cheque Truncation System (CTS). For any alterations / corrections in the payee’s name, amount, etc., fresh cheque forms should be used. This would help banks to identify and control fraudulent alterations from client respective accounts .

 

 

 

 

 

 

 

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