Cheque clearing plaints force review of uniform holiday calendar

.....A Reserve Bank of India circular has attributed the delay to ‘taking extension for return-clearing on days which are not declared as holiday under uniform holiday calendar’. The circular said that the Department of Payment and Settlement Systems did not favour providing blockage/extension on days which are not declared as holiday according to the calendar. It may be recalled that the uniform holiday calendar was launched in Chennai and Mumbai last year and covered several States/Union territories.............

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