Levy cheque return fee only if customers at fault: RBI to banks

"...Recently, instances have been brought to our notice where banks are levying cheque return charges even in cases where customers have not been at fault in the return and delaying the re-presentation of the cheques which had been returned by the paying banks under technical reasons," RBI said in a notification. It said that both of the issues were resulting into "unsatisfactory customer service" and it was considered necessary to streamline the procedure followed by all banks in this regard....................

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