India to soon have uniform cheque designs from all banks

Uniform cheques for e-clearing — timesofindia.indiatimes.com — Readability

Cheque books issued by banks will soon have an identical look with Reserve Bank of India fixing a deadline for banks to adopt uniform design standards to facilitate image-based or paperless clearing of cheques.

The Reserve Bank on Tuesday directed all banks to shift to standardized cheques before April 1, 2012 in the northern and southern region where RBI has already commenced its cheque truncation programme. Across the country banks have until September 30, 2012 to adopt uniform standards.

The Indian Banks Association (IBA) and National Payment Corporation of India (NPCI) have been vested with the responsibility of coordinating and implementing the uniform cheque standard across the country by all participating banks.

Expect our banks to plan for the past. They should move beyond cheques, dissuade people from using cheques. People should be encouraged to use NEFT. However, banks charge for NEFT while cheques continue to be free. I've salary account with HDFC Bank, for almost a decade now. They charge me for NEFT but provide free cheque book. The last time I questioned them, I was told that it is the the bank's policy, my foot.

even ICICI charge for NEFT .. they they we need to promote e-transaction more to save paper and now charge when we use these facility .. i guess the same were free previously ...

ICICI charges for it 😱

I just transfered 2.25L to a friend. I saw no mentions of any charges!

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i am seeing no extra charges. argh. i made an icici to icici transaction so it was probably not neft.

i have in the past transferred money from my standard chartered account to a government bank account. no charges there too.

For Salary accounts generally there are no charges on NEFT

i have one of those higher end savings account on standard chartered. i pay around 1000 bucks per year for my debit card 🙁 so i guess neft transactions are free because of that reason?

ICICI charges for it 😱

I just transfered 2.25L to a friend. I saw no mentions of any charges!

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i am seeing no extra charges. argh. i made an icici to icici transaction so it was probably not neft.

i have in the past transferred money from my standard chartered account to a government bank account. no charges there too.
The banks have rotten systems. They don't whom to charge and whom not to. HDFC Bank charges 5/- for NEFT upto 2,00,000/- and 15/- for amounts beyond that. So, a person can transfer 1,99,999/-. Instances like this galore....

Foreign banks have been more sensible in this regard. They proactively promote their customers to use these channels rather than cheques/visit branches.

For Salary accounts generally there are no charges on NEFT


i have salary ac only .. i did transfer for SBI and other corporate bank they charged around 6 bugs each time so they charge 6rs upto amount of 2 laks

@ admin ... which type of SB ac you hold with them ...

I guess we should not compare to foreign countries.

In western countries, if you book anything online, you may get discounts or worst case, the same amount. This is because if people use online services, the company can save on infrastructure for users to come in person and do the same.

Its quite opposite in India. You pay something called 'convenience charge' if you book online (movies, train etc). Except for airlines, you end up paying more 🙁

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i have salary ac only .. i did transfer for SBI and other corporate bank they charged around 6 bugs each time so they charge 6rs upto amount of 2 laks

@ admin ... which type of SB ac you hold with them ...

Thats weird. Its free for both Citibank and ICICI if its salary account. Been using for the past 3+ years this way...

I guess we should not compare to foreign countries.

In western countries, if you book anything online, you may get discounts or worst case, the same amount. This is because if people use online services, the company can save on infrastructure for users to come in person and do the same.

Its quite opposite in India. You pay something called 'convenience charge' if you book online (movies, train etc). Except for airlines, you end up paying more 🙁


The worst culprit in this regard is Indian Railways. By booking tickets online, we reduce load on their clerks, don't crowd their place, save paper and ink cartridge for them, etc. What do we get in return; additional charges!

IRCTC has been pathetic ever since makemytrip.com and cleartrip.com started railway bookings; may be a deliberate ploy. When we use either of these two sites, we are charged more than IRCTC!

Try making payment to any government agency, they charge extra; BSNL, MTNL, oil companies (some exceptions due to issuing banks), etc. Mahadiscom is a nice exception.

i have one of those higher end savings account on standard chartered. i pay around 1000 bucks per year for my debit card 🙁 so i guess neft transactions are free because of that reason?

1000 rupees for a debit card? You are getting ripped off.

I am using IDBI Bank for my primary savings account now a days. Almost every thing is free with IDBI Bank. Free debit card. Free demand drafts or pay orders. Free fund transfers using NEFT and RTGS and the list of freebies goes on.

I closed my savings account with Standard Chartered some 3 years back. I was tired of their staff pushing ULIPs with high charges.

BTW, cheque truncation was supposed to reduce the time for cheque clearing from 3 days to a few hours or max 1 working day. But even after implementation of cheque truncation in Delhi, local cheques are still clearing in 3 days only and not less. WTH? :disgust:

i am happy with what i get from standard chartered. there are some issues. at this point of time, there are few reasons to complain.

Thats good move indeed!


ICICI charges for it 😱

I just transfered 2.25L to a friend


2.25 L? :iomg:

Transfer some thousand to me please!

@Offtopic: BTW Admin bro! do you remember this? >>

it's a loan. he is buying a xuv500. it was originally scheduled for delivery next month. they preponed it to this month. he had some payments due for next month. so basically helping him out because of mahindra's actions. 😕

Thats weird. Its free for both Citibank and ICICI if its salary account. Been using for the past 3+ years this way...

did you tried recently .. this transaction i did in last month .. eg .. if i transfer 1000 bugs to other bank it shows 1006 ... this is first time i was trying the same ..

i checked with other friend who use the same very often and he told its normal and they charge this much amount .. we have the icici bank sal ac from last 5+ years .. not sure is it because we are in mumbai ... :?