...........Accordingly VTA has send memorandum to Union Finance Minister P. Chidambaram and RBI Governor Duvvuri Subbarao specifically appealing that such move should be made applicable gradually to avoid needless legal litigations and erroneously breach of trust within the parties. Implementing such a move over night shall cause unwanted multiple cheque bounce cases as many account holders still possess old cheque books and weak awareness shall enhancement problems after 1.1.2013, hence VTA demanded withdrawal of such RBI circular dated 3.9.2012.
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