Saturday, May 12, 2012

Levy uniform fee for collection of high value cheques: RBI

.......... In a relief to customers, the Reserve Bank on Friday asked the banks to fix a uniform fee for collection of cheques of over Rs 1 lakh, instead of levying it as a percentage of the value of the instrument. In another notification, the Reserve Bank asked the banks in remote areas to set up a mechanism to ensure that cheques are delivered and exchanged on the same day.............

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