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.
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.