Monday, January 15, 2007

Cheques to be cleared in 24 hours

The Reserve Bank of India (RBI) has informed the Consumer Commission that steps would be taken to ensure that cheques get cleared within 24 hours of their presentation so as to bring down the loss caused to consumers. RBI has said that before the end of March 2007 necessary action would be taken so that delay in clearing cheques would be minimum and in any case not more than 24 hours.


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