The
RBI move to compel banks to issue only CTS 2010-design cheques is
welcome, but it is a pity most banks have failed in the initiative
despite being informed in 2010. With D-Day looming, they have suddenly
woken up and are putting pressure on customers. To avoid hardship to
customers, a stay order has to be brought in suo moto by the apex court
for deferring the rollout of new cheques to January 1, 2014. This will
allow customers one year to be prepared and strict instruction must be
given to banks to stop issuing cheque books from old stock.
- CHANDRASEKARAN T R (ET)
- CHANDRASEKARAN T R (ET)
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