India to soon have uniform cheque designs from all banks

Sushubh

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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.
 

sa_kiran

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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.
 

dsneih

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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 ...
 


Sushubh

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ICICI charges for it :eek:

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.
 

Sushubh

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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?
 


sa_kiran

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ICICI charges for it :eek:

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.
 

dsneih

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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 ...
 

moindear

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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...
 

sa_kiran

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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.
 

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