The Reserve Bank has asked all CBS core banking solutions enabled banks to issue only 'payable at par' or 'multi-city' cheques to their customers.
Borrowers from NBFCs have now time till March 31 to replace their old system bank cheques with new ones with added security features for their EMI payments, as RBI has extended the deadline in this regard for non-banking finance companies. Bank customers do not need to discard their non-CTS standard cheque books in a hurry to get their multi-city CTS standard cheque leafs.
Here's why. However, this zero-balance account comes with a few riders attached. So, before you go ahead and get yourself an account, consider these key points. This is the first-time ever the annual Budget together with taxation proposals have come into effect from the first day of the financial year.
Among the most important proposals, the govt plans to lower limit of cash transactions at Rs 2 lakh and make Aadhaar mandatory for filing tax returns. Here is the full speech of the Finance Minister. The bank, which operates 17 branches in the country, is offering free cheque pick up and cash delivery at the door step for customers, it said.
The product, named 'Eve Account', comes with benefits such as discounts on lockers, demat account and investment fees, etc, the German bank said in a statement. To meet the objective, SBI has asked all its branches to issue only with uniform features conforming to CTS standard cheques to their customers.
The Reserve Bank today directed all banks to issue cheques with uniform features conforming to Cheque Truncation System CTS standard by end of this month. The RBI notification has also directed the banks not to levy any charge for clearance of such multi-city cheques. In the 41st of the part series, ET Wealth lists out the time specifications for buying or selling units in a mutual fund.
RBI today directed all banks to issue cheques conforming to CTS standard with uniform features from April 1, , onwards. Haryana govt has notified the sale of Haryana Government Stock Securities of year tenure for an aggregate amount of Rs 1, crore.
You have to follow some basic steps to ensure some writing errors don't cost you your hard-earned money. What is cheque truncation?
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