CHEQUE DROP FACILITY IN BANKS
Cheque Drop Box Facility and the Facility for Acknowledgement of Cheques
Circular No. RPCD.CO.RF.BC.NO./40/07.40.06/2006-07 Dated 26.12.2006 : The Reserve Bank of India, advised all the Indian banks to accept the cheque at the counters also and not to compel the customers to drop it only in the Cheque Drop Box. RBI said that both the options i.e. dropping cheques in the drop box or tendering them at the counters, should be made available to the customers so that he can take an informed decision in this regard. Banks are, therefore, advised to invariably display on the Cheque Drop-Box itself that 'Customers can also tender the cheques at the counter and obtain acknowledgement on the pay-in-slips'.
APDIR
Date: Dec 26, 2006
Cheque Drop Box Facility and the facility for acknowledgement of cheques
RBI/2006-07/221
RPCD.CO.RF.BC.NO./40/07.40.06/2006-07
December 26, 2006
The Chairmen/ CEOs of all State/Central Co-operative Banks
Dear Sir,
Cheque Drop Box Facility and the facility for acknowledgement of
cheques.
Reserve Bank of India / Banking Ombudsmen have been receiving complaints
that many bank branches are not accepting cheques at the counters and
are compelling the customers to drop the cheques in the Cheque Drop Box.
2. It is, therefore, advised that customers should not be compelled to
drop the cheques in the drop box and while the cheque drop box facility
may be made available to the customers, the facility for acknowledgement
of the cheques at the regular collection counters should also be
available to the customers. No branch should refuse to give an
acknowledgement if the customer tenders the cheque at the counters.
3. Wherever the cheque drop box facility has been introduced, it is
necessary that customer is made aware of both the options available to
him, i.e. dropping cheques in the drop box or tendering them at the
counters so that he can take an informed decision in this regard. Banks
are, therefore, advised to invariably display on the Cheque Drop-Box
itself that
'Customers can also tender the cheques at the counter and obtain
acknowledgement on the pay-in-slips'
The above message may be displayed in English, Hindi and the concerned
regional language of the State.
4. Please acknowledge receipt to our concerned Regional Office.
Yours faithfully,
(G.Srinivasan)
Chief General Manager
Circular No. RPCD.CO.RF.BC.NO./40/07.40.06/2006-07 Dated 26.12.2006 : The Reserve Bank of India, advised all the Indian banks to accept the cheque at the counters also and not to compel the customers to drop it only in the Cheque Drop Box. RBI said that both the options i.e. dropping cheques in the drop box or tendering them at the counters, should be made available to the customers so that he can take an informed decision in this regard. Banks are, therefore, advised to invariably display on the Cheque Drop-Box itself that 'Customers can also tender the cheques at the counter and obtain acknowledgement on the pay-in-slips'.
APDIR
Date: Dec 26, 2006
Cheque Drop Box Facility and the facility for acknowledgement of cheques
RBI/2006-07/221
RPCD.CO.RF.BC.NO./40/07.40.06/2006-07
December 26, 2006
The Chairmen/ CEOs of all State/Central Co-operative Banks
Dear Sir,
Cheque Drop Box Facility and the facility for acknowledgement of
cheques.
Reserve Bank of India / Banking Ombudsmen have been receiving complaints
that many bank branches are not accepting cheques at the counters and
are compelling the customers to drop the cheques in the Cheque Drop Box.
2. It is, therefore, advised that customers should not be compelled to
drop the cheques in the drop box and while the cheque drop box facility
may be made available to the customers, the facility for acknowledgement
of the cheques at the regular collection counters should also be
available to the customers. No branch should refuse to give an
acknowledgement if the customer tenders the cheque at the counters.
3. Wherever the cheque drop box facility has been introduced, it is
necessary that customer is made aware of both the options available to
him, i.e. dropping cheques in the drop box or tendering them at the
counters so that he can take an informed decision in this regard. Banks
are, therefore, advised to invariably display on the Cheque Drop-Box
itself that
'Customers can also tender the cheques at the counter and obtain
acknowledgement on the pay-in-slips'
The above message may be displayed in English, Hindi and the concerned
regional language of the State.
4. Please acknowledge receipt to our concerned Regional Office.
Yours faithfully,
(G.Srinivasan)
Chief General Manager
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